<SEC-DOCUMENT>0001513162-15-000512.txt : 20150818
<SEC-HEADER>0001513162-15-000512.hdr.sgml : 20150818
<ACCEPTANCE-DATETIME>20150818161536
ACCESSION NUMBER:		0001513162-15-000512
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		11
CONFORMED PERIOD OF REPORT:	20150731
FILED AS OF DATE:		20150818
DATE AS OF CHANGE:		20150818

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-Q
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37492
		FILM NUMBER:		151061440

	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-Q
<SEQUENCE>1
<FILENAME>form10q.htm
<DESCRIPTION>FORM 10-Q
<TEXT>
<HTML>
<head><title>FORM 10-Q</title> </head> <body vlink=#954f72 link=blue style=tab-interval:.5in lang=EN-US> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:58.5pt center 229.5pt left 405.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' align=center><a name=_DV_M1><b><font style=FONT-SIZE:14pt>UNITED STATES</font></b></a><b><font style=FONT-SIZE:14pt><br>SECURITIES AND EXCHANGE COMMISSION<br></font></b><a name=_DV_M2><font style=FONT-SIZE:14pt>Washington, D.C.&nbsp; 20549</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:center 3.25in' align=center><a name=_DV_M3><b><font style=FONT-SIZE:14pt>FORM 10-Q</font></b></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:center 3.25in' align=center><a name=_DV_M4>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:center 3.25in' align=center><a name=_DV_M5>OF THE SECURITIES EXCHANGE ACT OF 1934</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center><a name=_DV_M6>For the quarterly period ended July 31, 2015</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center><a name=_DV_M7>Commission file number 0-11254</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center>&nbsp;</p> <div style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:1pt; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in; page:WordSection1"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:center 3.25in' align=center><a name=_DV_M8><b><font style=FONT-SIZE:19pt>ITUS Corporation</font></b></a></p></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:center 3.25in' align=center><a name=_DV_M9><font style=FONT-SIZE:9pt>(Exact name of registrant as specified in its charter)</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=800 style=WIDTH:800pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.25pt> <td width=35% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:35%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:11pt; COLOR:black">Delaware</font><font style=COLOR:black>&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=20% style="HEIGHT:15.25pt; WIDTH:20%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="HEIGHT:15.25pt; WIDTH:21%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=24% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:24%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:11pt; COLOR:black">11-2622630</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=35% style="HEIGHT:14.5pt; WIDTH:35%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" rowspan=2 valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">(State or other jurisdiction of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>incorporation or organization)</font></p></td> <td width=20% style="HEIGHT:14.5pt; WIDTH:20%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="HEIGHT:14.5pt; WIDTH:21%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=24% style="HEIGHT:14.5pt; WIDTH:24%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" rowspan=2 valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">(I.R.S. Employer</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Identification No.)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=20% style="HEIGHT:14.5pt; WIDTH:20%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="HEIGHT:14.5pt; WIDTH:21%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=35% style="HEIGHT:15.25pt; WIDTH:35%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=20% style="HEIGHT:15.25pt; WIDTH:20%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="HEIGHT:15.25pt; WIDTH:21%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=24% style="HEIGHT:15.25pt; WIDTH:24%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=35% style="HEIGHT:15.25pt; WIDTH:35%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:11pt; COLOR:black">12100 Wilshire Boulevard, Suite 1275</font></p></td> <td width=20% style="HEIGHT:15.25pt; WIDTH:20%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="HEIGHT:15.25pt; WIDTH:21%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=24% style="HEIGHT:15.25pt; WIDTH:24%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=35% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:35%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:11pt; COLOR:black">Los Angeles, CA</font></p></td> <td width=20% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:20%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:21%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=24% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:24%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:11pt; COLOR:black">90025</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=35% style="HEIGHT:14.5pt; WIDTH:35%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">(Address of principal executive offices)</font></p></td> <td width=20% style="HEIGHT:14.5pt; WIDTH:20%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=21% style="HEIGHT:14.5pt; WIDTH:21%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=24% style="HEIGHT:14.5pt; WIDTH:24%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">(Zip Code)</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in decimal 261.0pt'>&nbsp;</p> <div style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:1pt; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in; page:WordSection1"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:-.5in' align=center><a name=_DV_M16><font style=FONT-SIZE:11pt>(310) 484-5200</font></a></p></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center><a name=_DV_M17><font style=FONT-SIZE:9pt>(Registrant's telephone number, including area code)</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><font style=FONT-SIZE:10pt>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;&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;&nbsp;</font><font style=FONT-SIZE:11pt>Yes <u>&nbsp;&nbsp;X&nbsp; </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No ___</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in 274.5pt 4.0in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><font style=FONT-SIZE:10pt>Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, 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).</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><font style=FONT-SIZE:10pt>&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style=FONT-SIZE:11pt>Yes <u>&nbsp;&nbsp;X&nbsp; </u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No ___</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in 274.5pt 4.0in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M19><font style=FONT-SIZE:10pt>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 &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act.</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 5.4pt 0pt 0in; TEXT-INDENT:0.25in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 5.4pt 0pt 0in; TEXT-INDENT:0.25in; page:WordSection1'><font style=FONT-SIZE:10pt>Large accelerated filer [&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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accelerated filer [&nbsp;&nbsp; ]</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 19.35pt 0pt 0in; TEXT-INDENT:0.25in; page:WordSection1'><a name=_DV_M21><font style=FONT-SIZE:10pt>Non-accelerated filer&nbsp;&nbsp;&nbsp;[&nbsp;&nbsp; ] (Do not check if a smaller reporting company)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Smaller reporting company [X]</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in 274.5pt 4.0in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M22><font style=FONT-SIZE:10pt>Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M23><font style=FONT-SIZE:10pt>&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;&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;&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></a><font style=FONT-SIZE:11pt>Yes ____&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; No <u>&nbsp;&nbsp;X</u></font><u> </u>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M24><font style=FONT-SIZE:10pt>Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M25><font style=FONT-SIZE:10pt>On August 14, 2015, the registrant had outstanding 8,720,878 shares of Common Stock, par value $.01 per share, which is the registrant&#146;s only class of common stock.&nbsp;&nbsp;&nbsp;</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1'><font style=FONT-SIZE:10pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p><font style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman","serif"'> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></font> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M26>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M27><b>&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</b></a></p> <div style=page:WordSection1 align=center> <table width=1000 style=WIDTH:750pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><a name=TOC><b><u><font style=COLOR:black>TABLE OF CONTENTS</font></u></b></p></a></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=92% colspan=2 style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#Part1>PART I.&nbsp; FINANCIAL INFORMATION</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM1>Item 1.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM1>Financial Statements.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#CBS>Condensed Consolidated Balance Sheets as of July 31, 2015 (Unaudited) and October 31, 2014</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>3</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>&nbsp; </font></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#OP1>Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) for the nine months ended July 31, 2015 and 2014</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>4</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#OP2>Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) for the three months ended July 31, 2015 and 2014</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>5</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#Stockholder>Condensed Consolidated Statement of Shareholders&#146; Equity (Unaudited)&nbsp; for the nine months ended July 31, 2015</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>6</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>&nbsp;&nbsp;&nbsp; </font></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#CF>Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended July 31, 2015 and 2014</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>7</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>&nbsp;&nbsp;&nbsp; </font></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#NOTES>Notes to Condensed Consolidated Financial Statements (Unaudited)</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>8 &#150; 20</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM2>Item 2.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM2>Management's Discussion and Analysis of Financial Condition and Results of Operations.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>21 - 29</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>&nbsp;&nbsp;&nbsp; </font></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM3>Item 3.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM3>Quantitative and Qualitative Disclosures About Market Risk.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>29</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM4>Item 4.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ITEM4>Controls and Procedures.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>29</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=92% colspan=2 style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#PARTII>PART II.&nbsp; OTHER INFORMATION</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#LEGAL>Item 1.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#LEGAL>Legal Proceedings.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>30</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#RISK>Item 1A.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#RISK>Risk Factors.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>30</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ES>Item 2.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#ES>Unregistered Sales of Equity Securities and Use of Proceeds.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>30 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#SS>Item 3.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#SS>Defaults Upon Senior Securities.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>31</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#Mine>Item 4.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#Mine>Mine Safety Disclosures.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>31</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#other>Item 5.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#other>Other Information.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=COLOR:black>31</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#Exhibits6>Item 6.</a></p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#Exhibits6>Exhibits.</a></p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>31</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=7% style="HEIGHT:15.25pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=85% style="HEIGHT:15.25pt; WIDTH:85%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><a href=#sign>SIGNATURES&nbsp;</a><font style=COLOR:black>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td style="HEIGHT:15.25pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" align=center>32</td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt' align=center><font style=FONT-SIZE:11pt>2</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><strong><font style=FONT-SIZE:11pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></strong></div><b><u><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","serif"'> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></font></u></b> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt'>&nbsp;<a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt' align=center><a name=Part1><b><u><font style=FONT-SIZE:11pt>PART I.&nbsp; FINANCIAL INFORMATION</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt'><a name=_DV_M54><a name=ITEM1><b><font style=FONT-SIZE:11pt>Item 1.</font></b><b><font style=FONT-SIZE:11pt>&nbsp; </font><font size=+0><u>Financial Statements.</u></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:369.0pt 412.8pt 566.4pt'><a name=_DV_M58><a name=_DV_M57>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=1000 style=WIDTH:750pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:11pt; COLOR:black">ITUS CORPORATION AND SUBSIDIARIES</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><a name=CBS><u><font style="FONT-SIZE:11pt; COLOR:black">CONDENSED CONSOLIDATED BALANCE SHEETS</font></u></p></a></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>(Unaudited)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">July 31,</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">October 31,</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10pt; COLOR:black">ASSETS</font></u></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Current assets:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Cash and cash equivalents</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,160,845 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,361,246 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Short-term investments in certificates of deposit</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,400,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,500,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Accounts receivable</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">400,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Prepaid expenses and other current assets </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">193,612 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">60,577 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total current assets</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">7,754,457 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">6,321,823 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Patents, net of accumulated amortization of $558,425 and $314,453, respectively</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,477,687 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,721,658 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Property and equipment, net of accumulated depreciation of $9,786 and $48,842, respectively</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">47,287 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">11,875 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total assets</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">10,279,431 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">9,055,356 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10pt; COLOR:black">LIABILITIES AND SHAREHOLDERS' EQUITY</font></u></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Current liabilities:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Accounts payable and accrued expenses</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">436,126 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,249,426 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Royalties and contingent legal fees payable </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">275,540 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">560,076 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total current liabilities</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">711,666 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,809,502 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Patent acquisition obligation</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,570,060 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,236,281 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total liabilities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,281,726 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,045,783 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Commitments and contingencies (Note 10)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Shareholders&#146; equity:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding, respectively</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">14,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">14,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,720,878 and 8,788,176 shares issued and outstanding, respectively</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">87,209 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">87,882 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Additional paid-in capital</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">150,752,848 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">148,677,413 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Accumulated deficit </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(144,856,352)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(144,769,722)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total shareholders&#146; equity </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,997,705 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,009,573 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total liabilities and shareholders&#146; equity </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">10,279,431 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">9,055,356 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:369.0pt 412.8pt 566.4pt' align=center><font style=FONT-SIZE:10pt>3</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:11pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:369.0pt 412.8pt 566.4pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1'><a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a><font style=FONT-SIZE:10pt>&nbsp;</font></p> <div style=page:WordSection1 align=center> <table width=1000 style=WIDTH:750pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10pt; COLOR:black">ITUS CORPORATION AND SUBSIDIARIES</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><a name=OP1><u><font style="FONT-SIZE:10pt; COLOR:black">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</font></u></p></a></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10pt; COLOR:black">AND COMPREHENSIVE LOSS (UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=28% colspan=5 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:28%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">For the Nine Months Ended</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>July 31,</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Revenue:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Revenue from licensing activities</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">255,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,105,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Amortization of display technology development and license fees received from AU <font size=+0 style=FONT-SIZE:10pt>Optronics</font> Corp. in fiscal year 2011</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,187,320 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Settlement with AU <font size=+0 style=FONT-SIZE:10pt>Optronics</font> Corporation</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">9,000,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total revenue</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">9,255,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,292,320 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Operating costs and expenses:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Inventor royalties and contingent legal fees</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">152,861 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">465,095 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Litigation and licensing expense</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,472,908 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">266,537 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Amortization of patents</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">243,972 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">233,129 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Marketing, general and administrative expenses (including non-cash stock option compensation expenses of $2,338,299 and $2,346,587, respectively)</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,152,489 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,807,154 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total operating costs and expenses</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">9,022,230 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,771,915 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Income (loss) from operations</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">232,770 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(3,479,595)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Change in value of derivative liabilities</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,460,704)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Loss on extinguishment of debt</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(482,915)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Interest expense</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(333,779)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,082,041)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Dividend income</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">47,568 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Interest income&nbsp; </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">14,379 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,817 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Loss before income taxes</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(86,630)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(6,452,870)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Provision for income taxes</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Net loss</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(86,630)</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(6,452,870)</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Other comprehensive loss:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Unrealized loss on investment in Videocon Industries Limited global depository receipts</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(46,371)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Total comprehensive loss</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(86,630)</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(6,499,241)</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Net loss per common share:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Basic and diluted</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(0.01)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(0.75)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Weighted average common shares outstanding:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Basic and diluted</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,773,279</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,619,845</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:250.2pt 340.2pt 371.85pt 466.15pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:250.2pt 340.2pt 371.85pt 466.15pt' align=center><font style=FONT-SIZE:10pt>4</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10.5pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div><u><font style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","serif"'> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></font></u> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:250.2pt 340.2pt 371.85pt 466.15pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1'>&nbsp;<a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <div style=page:WordSection1 align=center> <table width=1000 style=WIDTH:750pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10.5pt; COLOR:black">ITUS CORPORATION AND SUBSIDIARIES</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><a name=OP2><u><font style="FONT-SIZE:10.5pt; COLOR:black">CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</font></u></p></a></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10.5pt; COLOR:black">AND COMPREHENSIVE (LOSS) INCOME (UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=28% colspan=5 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:28%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">For the Three Months Ended</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>July 31,</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Revenue:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Revenue from licensing activities</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">95,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Amortization of display technology development and license fees received from AU <font size=+0 style=FONT-SIZE:10pt>Optronics</font> Corp. in fiscal year 2011</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,187,320 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total revenue</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">95,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,187,320 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Operating costs and expenses:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Inventor royalties and contingent legal fees</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">48,917 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Litigation and licensing expense</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">32,636 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">162,520 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Amortization of patents</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">81,324 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">81,289 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Marketing, general and administrative expenses (including non-cash stock option compensation expenses of $780,591 and $469,481, respectively)</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,422,844 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,103,094 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Total operating costs and expenses</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,585,721 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,346,903 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Loss from operations</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,490,721)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(159,583)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Change in value of derivative liabilities</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">850,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Interest expense</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(115,981)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(280,913)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Interest income&nbsp; </font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,523 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,497 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">(Loss) income before income taxes</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,602,179)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">411,001 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Provision for income taxes</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Net (loss) income</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,602,179)</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">411,001 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Other comprehensive (loss) income:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Unrealized income on investment in Videocon Industries Limited global depository receipts</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">173,518 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Total comprehensive (loss) income</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,602,179)</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">584,519 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Net (loss) income per common share:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Basic</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(0.18)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">0.05 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Diluted</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(0.18)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">0.04 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Weighted average common shares outstanding:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Basic </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,762,540</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,930,070</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Diluted</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,792,540</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">10,633,900</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:250.2pt 340.2pt 371.85pt 466.15pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:250.2pt 340.2pt 371.85pt 466.15pt' align=center><font style=FONT-SIZE:10pt>5</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10.5pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div><font style='FONT-SIZE:10.5pt; FONT-FAMILY:"Times New Roman","serif"'> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></font> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt'><a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a><font style=FONT-SIZE:10pt>&nbsp;</font></p> <div style=page:WordSection1 align=center> <table width=1067 style="WIDTH:800pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=100% colspan=19 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10pt; COLOR:black">ITUS CORPORATION AND SUBSIDIARIES</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=19 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><a name=Stockholder><u><font style="FONT-SIZE:10pt; COLOR:black">CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS&#146; EQUITY</font></u></p></a></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=19 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10pt; COLOR:black">FOR THE NINE MONTHS ENDED July 31, 2015 (UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=9% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:9%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Additional</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Paid-in</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Capital</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=9% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:9%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Shareholders&#146;</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Equity</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% colspan=4 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:17%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Preferred Stock</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=17% colspan=4 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:17%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Common Stock</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=9% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:9%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Accumulated</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Deficit</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Shares</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=9% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:9%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Par Value</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Shares</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=9% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:9%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Par Value</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Balance, October 31, 2014</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">140</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">14,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,788,176</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">87,882 </font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">148,677,413 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(144,769,722)</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,009,573 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Stock option compensation to employees and consultants</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,338,299 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,338,299 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock issued upon exercise of stock options</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">13,334</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">133 </font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">34,202 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">34,335 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock issued to consultants </font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">11,600</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">116 </font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">45,984 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">46,100 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Repurchase of 92,232 shares of common stock and cancellation of warrants to purchase 16,000&nbsp; shares of common stock</font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(343,972)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(343,972)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Retire common stock repurchased </font></p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(92,232)</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(922)</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">922 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Net loss</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(86,630)</font></p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:7%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(86,630)</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=33% style="HEIGHT:15.25pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Balance, July 31, 2015</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">140</font></p></td> <td width=1% style="HEIGHT:15.25pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">14,000 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,720,878</font></p></td> <td width=1% style="HEIGHT:15.25pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">87,209 </font></p></td> <td width=1% style="HEIGHT:15.25pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">150,752,848 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(144,856,352)</font></p></td> <td width=1% style="HEIGHT:15.25pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=7% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:7%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,997,705 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=33% style="HEIGHT:14.5pt; WIDTH:33%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=1% style="HEIGHT:14.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=7% style="HEIGHT:14.5pt; WIDTH:7%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=19 style="HEIGHT:14.5pt; WIDTH:100%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' align=center><font style=FONT-SIZE:10pt>6</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a><font style=FONT-SIZE:10pt>&nbsp;</font></p> <div style=page:WordSection1 align=center> <table width=1000 style=WIDTH:750pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><u><font style="FONT-SIZE:10.5pt; COLOR:black">ITUS CORPORATION AND SUBSIDIARIES</font></u></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><a name=CF><u><font style="FONT-SIZE:10.5pt; COLOR:black">CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)</font></u></p></a></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=28% colspan=5 style="HEIGHT:14.5pt; WIDTH:28%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">For the Nine Months Ended</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=28% colspan=5 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:28%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; July 31,</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Reconciliation of net loss to net cash provided by (used in) operating activities:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Net loss</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(86,630)</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(6,452,870)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Stock option compensation to employees and consultants</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,338,299 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,346,587 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock issued to consultants </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">46,100 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">40,748 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock issued to pay interest on convertible debentures</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">61,778 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Amortization of patents</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">243,972 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">233,129 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Accretion of interest on patent acquisition obligations to interest expense</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">333,779 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">286,002 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Amortization of convertible debenture discount to interest expense</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">575,210 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Loss on extinguishment of debt</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">482,915 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock issued to acquire patent license</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">62,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Change in value of derivative liabilities</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,460,704 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Loss on acquisition of 32,000 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">101,280 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Other</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">19,363 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(553)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Change in operating assets and liabilities:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Accounts receivable</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">400,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">41,667 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Prepaid expenses and other current assets</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(133,035)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">60,066 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Accounts payable and accrued expenses</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(813,300)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">28,101 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Royalties and contingent legal fees payable</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(284,536)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(55,343)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 20pt'><font style="FONT-SIZE:10pt; COLOR:black">Deferred revenue</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(1,187,320)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 30pt'><font style="FONT-SIZE:10pt; COLOR:black">Net cash provided by (used in) operating activities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,165,292 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(2,017,179)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Cash flows from investing activities:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Disbursements to acquire short-term investments in certificates of deposit&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;&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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(2,550,000)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(3,700,000)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Proceeds from maturities and sales of short-term investments in certificates of deposit</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,650,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,150,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Payments for purchases of property and equipment</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(54,776)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Other</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(3,798)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 30pt'><font style="FONT-SIZE:10pt; COLOR:black">Net cash provided by (used in) investing activities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">45,224 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(2,553,798)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Cash flows from financing activities:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp; </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Proceeds from issuance of convertible debentures</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,500,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Proceeds from sale of common stock, net</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,673,135 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Proceeds from exercise of warrants to purchase common stock</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">300,009 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Proceeds from exercise of employee stock options</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">34,335 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">51,225 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Payments to redeem convertible debentures</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(200,000)</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Payments to acquire 92,232 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(445,252)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 30pt'><font style="FONT-SIZE:10pt; COLOR:black">Net cash (used in) provided by financing activities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(410,917)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">7,324,369 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Net increase in cash and cash equivalents </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,799,599 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,753,392 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Cash and cash equivalents at beginning of period</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,361,246 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">898,172 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Cash and cash equivalents at end of period</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,160,845 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,651,564 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:15.25pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Supplemental disclosure of investing and financing activities:</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Non-cash patent acquisition</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,036,011 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock to acquire patent license</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">247,600 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Common stock issued upon conversion of debentures</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,735,349 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Fair value of debenture embedded conversion feature at date of issuance</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,570,000 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Relative fair value of warrants issued with convertible debentures</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">513,122 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=100% colspan=6 style="HEIGHT:14.5pt; WIDTH:100%; BACKGROUND:white; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top><font style="FONT-SIZE:10pt; COLOR:black"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p></font></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' align=center><font style=FONT-SIZE:10pt>7</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10.5pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div><font style='FONT-SIZE:10.5pt; FONT-FAMILY:"Times New Roman","serif"'><u> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></u></font> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt' align=center><u>ITUS CORPORATION AND SUBSIDIARIES</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt' align=center><a name=NOTES><u>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt' align=center><u>(UNAUDITED)</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a name=_DV_M76>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>BUSINESS&nbsp;AND&nbsp;FUNDING</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Description of Business</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>As used herein, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; the &#147;Company&#148; or &#147;ITUS&#148; means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;The primary operations of the Company involve the development, acquisition and licensing of emerging technologies.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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 these activities, we may make investments in companies with emerging technologies, acquire companies with emerging technologies, acquire or license emerging technologies for development within our subsidiary companies, and create and capitalize subsidiary companies for the purpose of developing and commercializing technologies that we create.&nbsp; While we expect to continue to generate revenue from licensing, we may also derive revenue from products and services sold and provided by companies in which we make investments, and technologies that we acquire, develop or create.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in; page:WordSection1'>The Company currently owns, controls, or is developing technologies in the primary areas of: thin-film displays, encrypted communications, advanced materials applications, and cancer diagnostics. In June 2015, we formed <font size=+0>Anixa</font> Diagnostics Corporation, a wholly owned subsidiary of ITUS that is developing non-invasive, cancer screening tests.&nbsp; We are continuing our licensing programs in connection with our patented encrypted communications, and advanced materials applications technologies.&nbsp; In addition we have resumed our Nano field emission display development program. The Company is looking to invest its resources in other emerging technology areas. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Funding and Management&#146;s Plans</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style="BACKGROUND:white; COLOR:black">During the nine months ended July 31, 2015, cash generated from operating activities was approximately $2,165,000.&nbsp; Net cash provided by investing activities was approximately $45,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,650,000 and disbursement of $2,550,000 for the purchase&nbsp;of certificates of deposit and approximately $55,000 for the purchase of property and equipment.&nbsp; Cash used in financing activities was approximately $411,000, which included approximately $445,000 for the repurchase of 92,232 shares of our common stock, including 60,232 shares of common stock purchased in open market transactions at a cost of approximately $245,000, and cancellation warrants to purchase 16,000 shares of our common stock, offset by the proceeds from exercise of stock options of approximately $34,000. As a result, our cash, cash equivalents, and short-term investments at July 31, 2015 increased by approximately $1,700,000 to approximately $7,561,000 from approximately $5,861,000 at the end of fiscal year 2014.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; center; new margin: text-indent: 0in? style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>8</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style="BACKGROUND:white; COLOR:black"> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1'><a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>Based on currently available information as of August 18, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows from licensing and other potential sources of 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. &nbsp;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 or if we elect to purchase assets or a business for cash, 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. &nbsp;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 <font size=+0>that other sources</font> of funding, such as sales of equity or debt, would be available, 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; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u><font style=COLOR:black>Reverse Stock Split</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>On June 26, 2015, we <font size=+0>effected</font> a 1-for-25 reverse stock split (the &#147;Stock Split&#148;) of our issued common stock and preferred stock. Each <font size=+0>shareholders&#146;</font> percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. All applicable share data, per share amounts and related information in the condensed 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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Basis of Presentation</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X.&nbsp; Accordingly, certain information and footnotes required by generally accepted accounting principles in annual financial statements have been omitted or condensed.&nbsp; These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended October 31, 2014, as reported by us in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (&#147;SEC&#148;) on January 29, 2015.&nbsp; The October 31, 2014 consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America.&nbsp; The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July 31, 2015, and results of operations and cash flows for the interim periods represented.&nbsp; The results of operations for the three and nine months ended July 31, 2015 are not necessarily indicative of the results to be expected for the entire year.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; center; new margin: text-indent: 0in? style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>9</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&nbsp;<a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Revenue Recognition</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>Revenue is recognized when (<font size=+0>i</font>) 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 <font size=+0>(iv) the</font> collectability of amounts is reasonably assured.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><u><font style=COLOR:black>Licensing</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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 our operating subsidiaries.&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(<font size=+0>i</font>) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by our operating subsidiaries, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and <font size=+0>(iv) the</font> 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, our operating subsidiaries 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 had been met.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Intangible Assets</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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 nine months ended July 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively.&nbsp; We did not capitalize any patent acquisition costs during the three months ended July 31, 2015 and 2014. We recorded patent amortization expense of approximately $244,000 and $233,000 during the nine months ended July 31, 2015 and 2014, respectively, and approximately $81,000 and $81,000 during the three months ended July, 2015 and 2014, respectively.<a name=_DV_M82></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>AUO SETTLEMENT</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' align=justify><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;</font><font style=COLOR:black>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On December 29, 2014, the Company and AU <font size=+0>Optronics</font> Corporation (&#147;AUO&#148;) 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 the Company&#146;s patented <font size=+0>ePaper</font>&#174; Electrophoretic Display, and Nano Field Emission Display technologies. The Company received an aggregate of $9,000,000 </font>from AUO, and transferred certain electrophoretic display patents to AUO. For more information regarding our lawsuit against AUO and the Settlement Agreement and Patent Assignment Agreement with AUO, please refer to our Annual Report on Form 10-K filed with the SEC on January 29, 2015.</p> <p 0in white; text-align: roman?,?serif?; 0pt; center; new margin: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-autospace:? background: times align=center><font style=FONT-SIZE:10pt>10</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&nbsp;<a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>3.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; <u>STOCK BASED COMPENSATION</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The Company maintains stock equity incentive plans under which the Company grants non-qualified stock options, stock appreciation rights, stock awards, performance awards, or stock units to employees, directors and consultants.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Stock Option Compensation Expense </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>We account for stock options granted to employees and directors using the accounting guidance in Accounting Standards Codification 718 &#147;Stock Compensation&#148; (&#147;ASC 718&#148;).&nbsp; <font style=COLOR:black>In accordance with ASC 718, <font size=+0>we estimate</font> the fair value of service based stock 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&#146;s common stock exceeds price targets we use a Monte Carlo Simulation in estimating the fair value at grant date.&nbsp; </font>We recognize compensation expense for <font style=COLOR:black>service based stock options and options subject to market conditions</font> over the requisite or implied service period of the grant.&nbsp; For performance based awards, compensation expense is recognized over the requisite or implied service period of the grant when the performance target is deemed probable.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $1,671,000 and $1,562,000, during the nine months ended July 31, 2015 and 2014, respectively, and approximately $445,000 and $573,000 during the three months ended July 31, 2015 and 2014, respectively. Stock-based compensation expense for the nine months ended July 31, 2015 and 2014 includes approximately $1,587,000 and $1,089,000, respectively, and during the three months ended July 31, 2015 and 2014 approximately $408,000 and $496,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. &nbsp;As of July 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 $644,000, which will be recognized over a weighted-average period of 1 year.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;We account for stock options granted to consultants using the accounting guidance included in ASC 505-50 &#147;Equity-Based Payments to Non-Employees&#148; (&#147;ASC 505-50&#148;).&nbsp; In accordance with ASC 505-50, <font size=+0><font style=COLOR:black>we estimate </font></font><font style=COLOR:black>the fair value of service based stock options and performance based options at each reporting period, using the Black-Scholes pricing model.&nbsp; F</font>or options vesting if the trading price of the Company&#146;s common stock exceeds price targets we estimate the fair value at each reporting period using a Monte Carlo Simulation. &nbsp;We recognize compensation expense for <font style=COLOR:black>service based stock options and options subject to market conditions</font> 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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>We recorded consulting expense, related to stock options granted to consultants, during the nine months ended July 31, 2015 and 2014 of approximately $668,000 and $784,000, respectively, and approximately $335,000 and $(103,000) during the three months ended July 31, 2015 and 2014, respectively. &nbsp;Stock-based consulting expense for the nine and three months ended July 31, 2015 represents the amortization of compensation cost for stock options granted in prior periods but vested in the current period.&nbsp; Stock-based consulting expense for the nine and three ended July 31, 2014 includes approximately $736,000 and $(107,000), respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of July 31, 2015, there was unrecognized consulting expense related to non-vested stock options granted to consultants, related to service based options of approximately $221,000, which will be recognized over a weighted-average period of .5 years.&nbsp;</p> <p 0in text-align: roman?,?serif?; 0pt; center; new margin: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-autospace:? times align=center><font style=FONT-SIZE:10pt>11</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&nbsp;<a href=#TOC><font style=FONT-SIZE:10pt>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Fair Value Determination&nbsp; </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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;<font style=COLOR:black>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. Stock options we granted during the nine months ended July 31, 2015 consisted of awards exercisable for 10 years that vest over one year or over three years.&nbsp; The stock options we granted during the nine months ended July 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; </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The following weighted average assumptions were used in estimating the fair value of stock options granted during the nine months ended July 31, 2015 and 2014, and the three months ended July 31, 2015 and 2014.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=26% colspan=3 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:26%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">For the Nine Months</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Ended July 31,</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=26% colspan=3 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:26%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">For the Three Months</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Ended July 31,</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=46% style="HEIGHT:15.25pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">2014</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Weighted average fair value at grant date</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.40 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$5.50 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$3.09 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$6.25 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Valuation assumptions:</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Expected life (years)</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">5.36</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">5.79</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">5.75</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">5.98</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Expected volatility</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">114.8%</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">115.4%</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">117.8%</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">115.1%</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Risk-free interest rate</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1.66%</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1.82%</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">2.01%</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1.93%</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Expected dividend yield</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">0</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">0</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">0</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">0</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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.&nbsp; </p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>12</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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 we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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 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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Stock Option Activity </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>During the nine months ended July 31, 2015 and 2014, we granted options to purchase 60,400 and 520,400 shares, respectively, of common stock at weighted average exercise prices of $2.91 and $5.50 per share, respectively, pursuant to the ITUS Corporation 2010 Share Incentive Plan (the "2010 Share Plan&#148;).&nbsp;&nbsp;During the nine months ended July 31, 2015, stock options to purchase 13,334 shares of common stock were exercised with aggregate proceeds of approximately $34,000.&nbsp;During the nine months ended July 31, 2014, stock options to purchase 13,800 shares of common stock were exercised with aggregate proceeds of approximately $51,000. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Stock&nbsp;Option&nbsp;Plans</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>As of July 31, 2015, we have two stock option plans:&nbsp;the ITUS Corporation 2003 Share Incentive Plan (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.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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;In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the ability to grant future options on April 21, 2013. Information regarding the 2003 Share Plan for the nine months ended July 31, 2015 is as follows:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average Exercise</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Price Per Share</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=17% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:17%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Aggregate</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Intrinsic</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Value</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Shares</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding at October 31, 2014</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">493,991 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$18.00 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Forfeited</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(82,191)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$15.57 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=52% style="HEIGHT:15.25pt; WIDTH:52%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding and exercisable at July 31, 2015</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">411,800 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=15% style="HEIGHT:15.25pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$17.22 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=15% style="HEIGHT:15.25pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">156,896 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10pt>13</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of July 31, 2015: </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=38% style="HEIGHT:14.5pt; WIDTH:38%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=4 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>(in years)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=38% style="HEIGHT:14.5pt; WIDTH:38%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=20% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:20%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Price</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=38% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:38%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Range of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Prices</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Outstanding</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=38% style="HEIGHT:14.5pt; WIDTH:38%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp; $ 1.79 - $ 9.25</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">77,880</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1.91</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2.89 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=38% style="HEIGHT:14.5pt; WIDTH:38%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$10.75 - $17.50</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">101,200</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1.04</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">15.21 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=38% style="HEIGHT:14.5pt; WIDTH:38%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp; $18.50 - $23.00</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">192,720</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1.39</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">21.57 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=38% style="HEIGHT:14.5pt; WIDTH:38%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$29.25 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">40,000</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">2.06</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">29.25 </font></p></td></tr></table><br></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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;As of July 31, 2015, the 2010 Share Plan had 982,955 shares available for future grants.&nbsp;Information regarding the 2010 Share Plan for the nine months ended July 31, 2015 is as follows: </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>&nbsp;Exercise</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Price Per Share</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=17% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:17%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Aggregate</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Intrinsic</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Value</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Shares</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding at October 31, 2014</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">728,560 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$5.75 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Granted</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">60,400 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.91 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Exercised</font></p></td> <td width=12% style="HEIGHT:14.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(13,334)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.58 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=52% style="HEIGHT:14.5pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Forfeited</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">(243,355)</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$6.39 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=52% style="HEIGHT:15.25pt; WIDTH:52%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding&nbsp; at July 31, 2015</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">532,271 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=15% style="HEIGHT:15.25pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$3.32 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=15% style="HEIGHT:15.25pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">986,700 </font></p></td></tr> <tr style=HEIGHT:15.95pt> <td width=52% style="HEIGHT:15.95pt; WIDTH:52%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Exercisable at July 31, 2015</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.95pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 2.9pt 0pt 0in' align=right><font style="FONT-SIZE:10pt; COLOR:black">383,982 </font></p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:15.95pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$3.45 </font></p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=15% style="HEIGHT:15.95pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">652,231 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The following table summarizes information about stock options outstanding under the 2010 Share Plan as of July 31, 2015:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=42% colspan=3 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:42%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=42% colspan=3 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:42%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Options Exercisable</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=5 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>(in years)</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=5 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>(in years)</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Price</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Price</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Range of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Prices</font></p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Outstanding</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercisable</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.58 - $9.25</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">532,271</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">7.25</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$3.32 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">383,982</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">6.75</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$3.45 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10pt>14</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, the Board of Directors approved the grant of stock options to purchase 1,780,000 shares.&nbsp;Information regarding stock options outstanding that were not granted under the 2003 Plan or the 2010 Plan for the nine months ended July 31, 2015 is as follows: </p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=47% style="HEIGHT:14.5pt; WIDTH:47%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=16% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:16%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average Exercise</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Price Per Share</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Aggregate</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Intrinsic</font><br><font style=FONT-SIZE:10pt>Value</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=47% style="HEIGHT:14.5pt; WIDTH:47%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=47% style="HEIGHT:14.5pt; WIDTH:47%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Shares</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=47% style="HEIGHT:14.5pt; WIDTH:47%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding at October 31, 2014</font></p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1,780,000</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=16% style="HEIGHT:14.5pt; WIDTH:16%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$5.50 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=16% style="HEIGHT:14.5pt; WIDTH:16%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=47% style="HEIGHT:14.5pt; WIDTH:47%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding&nbsp; at July 31, 2015</font></p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1,780,000</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=16% style="HEIGHT:14.5pt; WIDTH:16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.69 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=16% style="HEIGHT:14.5pt; WIDTH:16%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,958,650 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=47% style="HEIGHT:14.5pt; WIDTH:47%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Options Exercisable at July 31, 2015</font></p></td> <td width=15% style="HEIGHT:14.5pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1,689,179</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=16% style="HEIGHT:14.5pt; WIDTH:16%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.69 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=16% style="HEIGHT:14.5pt; WIDTH:16%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,748,399 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>The following table summarizes information about stock options outstanding that were not granted under the 2003 Share Plan or the 2010 Share Plan as of July 31, 2015: </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.25pt> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=42% colspan=3 style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:42%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Options Outstanding</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=42% colspan=3 style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:42%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Options Exercisable</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=5 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>(in years)</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=5 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>(in years)</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Price</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Price</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=14% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Range of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercise Prices</font></p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Outstanding</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Exercisable</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.58-$5.50</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1,780,000</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">7.01</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.69 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">1,689,179</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">7.01</font></p></td> <td width=14% style="HEIGHT:14.5pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$2.69 </font></p></td></tr></table><br></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>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 2,184,126 issued and outstanding stock options (the &#147;Re-Priced Options&#148;) 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&#146;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.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u><font style=COLOR:black>Stock Awards </font></u><a name=_DV_M176></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>We account for stock awards granted to employees and consultants based on their grant date fair value, in accordance with ASC 718 and ASC 505-50, respectively.&nbsp;During the nine months ended July 31, 2015 and 2014, we issued 11,600 shares and 5,200 shares, respectively, of common stock to consultants for services rendered.&nbsp; We recorded consulting expense for the nine months ended July 31, 2015 and 2014 of approximately $46,000 and $41,000, respectively, for the shares of common stock issued to consultants. During the three months ended July 31, 2015 and 2014, we issued 10,000 shares and 800 shares, respectively, of common stock to consultants for services rendered.&nbsp; We recorded consulting expense for the three months ended July 31, 2015 and 2014 of approximately $40,000 and $6,000, respectively, for the shares of common stock issued to consultants.&nbsp;</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>15</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>FAIR VALUE MEASUREMENTS</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>ASC 820 &#147;Fair Value Measurements and Disclosures&#148; (&#147;ASC 820&#148;) 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, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy as set forth below. 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.<a name=eolPage30></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>Financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>Level 1 - Financial assets and liabilities 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>Level 2 - Financial assets and liabilities 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;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>Level 3 &#150; Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management&#146;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. We do not currently have any Level 3 financial assets.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of July 31, 2015: </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;</font></p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 1</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 2</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 3</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Money market funds &#150; Cash&nbsp; equivalents</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,571,191 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,571,191 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Certificates of deposit - Short term investments</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,400,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,400,000 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=46% style="HEIGHT:15.25pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Total financial assets</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,571,191 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,400,000 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">5,971,191 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><a name=FIS_UNIDENTIFIED_TABLE_18>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 1</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 2</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 3</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Money market funds &#150; Cash&nbsp; equivalents</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">155,964 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">155,964 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Certificates of deposit -Short term investments</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,500,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,500,000 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=46% style="HEIGHT:15.25pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Total financial assets</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">155,964 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,500,000 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,655,964 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' align=center><font style=FONT-SIZE:10pt>16</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of July 31, 2015:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 1</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 2</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 3</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Patent acquisition obligation</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$&nbsp;</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$ </font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,570,060</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,570,060</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=46% style="HEIGHT:15.25pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,570,060</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,570,000</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of October 31, 2014:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 1</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 2</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Level 3</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=10% style="HEIGHT:14.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=46% style="HEIGHT:14.5pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Patent acquisition obligation</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$&nbsp;</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$&nbsp;</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,236,281</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,236,281</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=46% style="HEIGHT:15.25pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,236,281</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=10% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:black 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,236,281</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'><a name=FORM10Q_HTM_PAGE_41><a name=eolPage31>The following table sets forth a summary of the changes in the fair value of the Company&#146;s Level 3 financial liabilities that are measured at fair value on a recurring basis:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=80% style="HEIGHT:14.5pt; WIDTH:80%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><u><font style="FONT-SIZE:10pt; COLOR:black">Patent acquisition obligation</font></u></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=80% style="HEIGHT:14.5pt; WIDTH:80%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Balance October 31, 2013</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=80% style="HEIGHT:14.5pt; WIDTH:80%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Initial fair value</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">2,850,511 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=80% style="HEIGHT:14.5pt; WIDTH:80%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Accreted interest on patent obligation</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:18%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">385,770 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=80% style="HEIGHT:14.5pt; WIDTH:80%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Balance October 31, 2014</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="HEIGHT:14.5pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,236,281 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=80% style="HEIGHT:14.5pt; WIDTH:80%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Accreted interest on patent obligation</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:18%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">333,779 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=80% style="HEIGHT:15.25pt; WIDTH:80%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Balance July 31, 2015</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3,570,060</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:6pt 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Our non-financial assets that may be measured at fair value on a non-recurring basis include our patents and property and equipment which are measured using fair value techniques whenever events or changes in circumstances indicate a condition of impairment exists. The estimated fair value of accounts receivable, accounts payable and accrued liabilities approximates their individual carrying amounts due to the short term nature of these measurements.&nbsp;These assets and liabilities were not presented in the preceding table.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><a name=eolPage32><font style=COLOR:black>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>INVESTMENTS</u></font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>At July 31, 2015 and October 31, 2014, we had <font style=COLOR:black>certificates of deposit </font>of $2,400,000 and $2,500,000, respectively, which were classified as <font style=COLOR:black>short-term investments and reported at fair value.&nbsp; </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style="FONT-SIZE:10pt; COLOR:black">17</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=COLOR:black> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; page:WordSection1'>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>ACCOUNTS PAYABLE AND ACCRUED EXPENSES</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>Accounts payable and accrued <font size=+0>expense consist</font> of the following as of:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style=WIDTH:550pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">July 31,</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2015</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=13% colspan=2 style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:13%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">October 31,</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Accounts payable</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">424,688 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">540,179 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Payroll and related expenses</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">372,753 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Accrued litigation expense, consulting and&nbsp; other professional fees</font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">7,000 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="HEIGHT:14.5pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">320,493 </font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=72% style="HEIGHT:14.5pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Accrued other</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">4,438 </font></p></td> <td width=2% style="HEIGHT:14.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">16,001 </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=72% style="HEIGHT:15.25pt; WIDTH:72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">436,126 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=11% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">1,249,426 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=COLOR:black>&nbsp; </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>7.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>&nbsp;NET LOSS PER SHARE OF COMMON STOCK </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In accordance with ASC 260, &#147;Earnings <font size=+0>Per</font> Share&#148;, basic net income (loss) per common share (&#147;Basic EPS&#148;) is computed by dividing net income (loss) by the weighted average number of common shares outstanding.&nbsp;Diluted net income (loss) per common share (&#147;Diluted EPS&#148;) is computed by dividing net income (loss) by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding.&nbsp;The treasury stock method reduces the dilutive effect of potentially dilutive securities as it assumes that any cash proceeds (from the issuance of potentially dilutive securities) are used to buy back shares at the average share price during the period.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Dilutive EPS for the three months ended July 31, 2014 excluded stock options to purchase 357,920 <font size=+0>shares and warrants </font>to purchase 715,379 shares because their effect would be antidilutive.&nbsp;The following is <font size=+0>a reconciliation</font> between basic weighted average common shares outstanding and dilutive weighted average common shares outstanding for the three months ended July 31, 2014:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=23% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:23%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">For the Three</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Months Ended</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>July 31, 2014</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Basic weighted average common shares outstanding</font></p></td> <td width=23% style="HEIGHT:14.5pt; WIDTH:23%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">8,930,070</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Effect of convertible debentures</font></p></td> <td width=23% style="HEIGHT:14.5pt; WIDTH:23%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style=FONT-SIZE:10pt> 739,958</font></font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Effect of warrants</font></p></td> <td width=23% style="HEIGHT:14.5pt; WIDTH:23%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71,822</font></p></td></tr> <tr style=HEIGHT:14.5pt> <td width=77% style="HEIGHT:14.5pt; WIDTH:77%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Effect of stock options</font></p></td> <td width=23% style="BORDER-TOP:0px; HEIGHT:14.5pt; BORDER-RIGHT:0px; WIDTH:23%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">892,050</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=77% style="HEIGHT:15.25pt; WIDTH:77%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Dilutive weighted average common shares outstanding</font></p></td> <td width=23% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:23%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,633,900</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Diluted EPS for the nine and three months ended July 31, 2015 and the nine months ended July 31, 2014 are 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 nine and three months ended July 31, 2015 were stock options to purchase 2,724,072 shares, warrants to purchase 1,028,932 shares and preferred stock convertible into 739,958 shares and for the nine months ended July 31, 2014 were stock options to purchase 2,975,951 shares, warrants to purchase 1,036,932 shares and debentures convertible into 739,958 shares. </p> <p text-autospace: 0in roman?,?serif?; 0pt; 0.0in? new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-align:center; times align=center><font style=FONT-SIZE:10pt>18</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1'>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (&#147;ASU 2014-09&#148;), 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. 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In June 2014, the FASB issued Accounting Standards Update 2014-12 (&#147;ASU 2014-12&#148;), Compensation &#150; 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; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In August 2014, the FASB issued Accounting Standards Update 2014-15 (&#147;ASU 2014-15&#148;).&nbsp;This amendment requires management to assess an entity&#146;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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>In April 2015, the FASB issued Accounting Standards Update 2015-03 (&#147;ASU 2015-03&#148;) to simplify the presentation of debt issuance costs. This amendments 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>INCOME TAXES </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>We file Federal, New York State and California State income tax returns.&nbsp; Due to net operating losses, the statute of limitations for Federal and New York State income tax returns remains open to examination by taxing authorities since the fiscal year ended October 31, 1997.&nbsp; We account for interest and penalties related to income tax matters, if any, in marketing, general and administrative expenses. There are no unrecognized income tax benefits as of July 31, 2015 and October 31, 2014.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style="FONT-SIZE:10pt; COLOR:black">19</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=COLOR:black> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>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.</font> We have substantial net operating loss carryforwards in all jurisdictions where we are subject to tax. We have provided a full valuation allowance against our deferred tax asset due to our historical pre-tax losses and the uncertainty regarding the <font size=+0>realizability</font> of these deferred tax assets.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>On December 29, 2014, we reached a Settlement Agreement resulting in our receipt of an aggregate of $9,000,000 in settlement of a dispute (Note 2).&nbsp;As a result we realized taxable income during the first quarter of fiscal year 2015.&nbsp; We expect any taxable income for the full fiscal year will be completely offset by our net operating loss carryforwards, resulting in no tax due in any jurisdiction.&nbsp;Accordingly, we have not recorded a tax provision for the interim periods anticipating a partial release of the valuation reserve recorded against our deferred tax assets to the extent of the net operating loss carryforwards actually used for the full fiscal year.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><a name=_DV_M197>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>COMMITMENT AND CONTINGENCES</u>&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u><font style=COLOR:black>Patent Acquisition Obligations</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>As of July 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 $3,570,000, and which amount will be reduced by royalties paid during the period.&nbsp; The payment due in November 2017 is payable at the option of the Company in cash or common stock.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u>Litigation Matters</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 2). </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>Other than lawsuits 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;</font></p> <p margin-right: text-autospace: margin-left: text-align: 0in; roman?,?serif?; 0.0in? center; new text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>20</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></font> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><a name=ITEM2><font size=+0><b><font style=COLOR:black>Item 2.</font></b></font><b><font style=COLOR:black>&nbsp; <font size=+0><u>Management's Discussion and Analysis of Financial Condition and Results of Operations.</u></font>&nbsp;&nbsp; </font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><b><u><font style=COLOR:black>GENERAL</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><a name=_DV_M193>As used herein, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; the &#147;Company&#148; or &#147;ITUS&#148; means ITUS Corporation and its wholly-owned subsidiaries. The primary operations of the Company involve the development, acquisition and licensing of emerging technologies.</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>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 these activities, we may make investments in companies with emerging technologies, acquire companies with emerging technologies, acquire or in-license emerging technologies for development within our subsidiary companies, and create and capitalize subsidiary companies for the purpose of developing and commercializing technologies that we create.&nbsp; While we expect to continue to generate revenue from licensing, we may also derive revenue from products and services sold and provided by companies in which we make <font size=+0>investments,</font> and technologies that we acquire or create.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in; page:WordSection1'>The Company currently owns, controls, or is developing technologies in the primary areas of: thin-film displays, encrypted communications, advanced materials applications, and cancer diagnostics. In June 2015, we formed <font size=+0>Anixa</font> Diagnostics Corporation, a wholly owned subsidiary of ITUS that is developing non-invasive, cancer screening tests.&nbsp; We are continuing our licensing programs in connection with our patented encrypted communications, and advanced materials applications technologies.&nbsp; In addition we have resumed our Nano field emission display development program. The Company is looking to invest its resources in other emerging technology areas. </p> <h4 style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><u><font style=COLOR:black>RESULTS OF OPERATIONS</font></u></h4> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><b><u><font style=COLOR:black>Nine months ended July 31, 2015 compared with nine months ended July 31, 2014</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt 0.5in; page:WordSection1; tab-stops:4.25in'><b><i><font style=COLOR:black>Revenue from Settlement with AU <font size=+0>Optronics</font> Corporation</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1; tab-stops:.5in'><font style=COLOR:black>Revenue from the Settlement with AU <font size=+0>Optronics</font> Corporation was $9,000,000 for the nine months ended July 31, 2015, compared to $-0- in the comparable prior year period.&nbsp; On December 29, 2014, the Company and AU <font size=+0>Optronics</font> Corporation (&#147;AUO&#148;) entered into a Settlement Agreement (the &#147;AUO Settlement Agreement&#148;) and a Patent Assignment Agreement (the &#147;AUO Patent Assignment Agreement&#148;) pursuant to which the Company received an aggregate of $9,000,000 from AUO (the &#147;AUO Settlement&#148;).&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, relating to joint development projects in connection with the Company&#146;s <font size=+0>ePaper</font>&#174; Electrophoretic Display, and Nano Field Emission Display (&#147;<font size=+0>nFED</font>&#148;) technologies.&nbsp; </font>As part of the AUO Settlement, the Company terminated AUO&#146;s license to the Company&#146;s patented Nano Field Emissions Display technology. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1; tab-stops:.5in'>&nbsp;</p> <p .5in? text-autospace: 0in 0.0in; white; text-align: roman?,?serif?; 0pt; center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' tab-stops: background: times align=center><font style=FONT-SIZE:10pt>21</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1; tab-stops:.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt 0.5in; page:WordSection1; tab-stops:4.25in'><b><i><font style=COLOR:black>Revenue from Licensing Activities</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>For the nine months ended July 31, 2015, we recorded revenue from licensing activities of $255,000 from 3 license agreements. In the comparable prior year period we recorded revenue from licensing activities of $1,105,000 from 5 license agreements. The license agreements provided for one-time, non-recurring, lump sum payments in exchange for non-exclusive retroactive and future licenses, 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.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt 0.5in; page:WordSection1; tab-stops:4.25in'><b><i><font style=COLOR:black>Display Technology Development and License Fees</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>For the nine months ended July 31, 2014, 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 in fiscal year 2011.&nbsp; We did not record any display technology development and license fees during the nine months ended July 31, 2015.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>I<font style=COLOR:black>nventor Royalties and Contingent Legal Fees </font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Inventor royalties and contingent legal fees were approximately $153,000 for the nine months ended July 31, 2015, compared to approximately $465,000 in the comparable prior year period.&nbsp; Inventor royalties and 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 our operating subsidiaries.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i><font style=COLOR:black>Litigation and Licensing Expenses</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Litigation and licensing expenses increased by approximately $3,206,000 to approximately $3,473,000 in the nine months ended July 31, 2015, from approximately $267,000 in the comparable prior year period.&nbsp; Litigation and licensing expenses in the current period were primarily related to the settlement with AUO.&nbsp; Litigation and licensing expenses, other than contingent legal fees, are expensed in the period incurred.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i><font style=COLOR:black>Amortization of Patents</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Amortization of patents was approximately $244,000 for the nine months ended July 31, 2015, compared to approximately $233,000 in the comparable prior year period.&nbsp; We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i><font style=COLOR:black>Marketing, General and Administrative Expenses</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Marketing, general and administrative expenses increased by approximately $345,000 to approximately $5,152,000 in the nine months ended July 31, 2015, from approximately $4,807,000 in the comparable prior-year period. The increase in marketing, general and administrative expenses was principally due to an increase in legal and accounting fees of approximately $233,000, an increase in non-cash employee stock option expense of approximately $108,000, an increase in consulting expense of approximately $105,000 and non-recurring costs associated with former employees&#146; severance arrangements of approximately $101,000, offset by a decrease in investor relations and public relations expense of approximately $125,000 and a decrease in non-cash consultant stock option expense of approximately $117,000.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in roman?,?serif?; 0pt; 0.0in? new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-align:center; times align=center><font style=FONT-SIZE:10pt>22</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Change in Value of Derivative Liability</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Change in value of derivative liability was $-0- in the nine months ended July 31, 2015, compared to a loss of approximately $1,461,000 in the comparable prior year period.&nbsp;The derivative liability in the prior year period was related to the embedded conversion features associated with 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.&nbsp;As of October 31, 2014, the Company no longer had any convertible debentures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Loss on Extinguishment of Debt</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Loss on extinguishment of debt was $-0- in the nine months ended July 31, 2015, compared to a loss of approximately $483,000 in the comparable prior year period.&nbsp; The loss during the nine months ended July 31, 2014 related to the conversion of $1,240,000 principal amount of the Convertible Debentures due January 2015 into 330,684 shares of common stock and the prepayment of $200,000 of principal amount of Convertible Debentures due January 2015. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Interest Expense</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Interest expense decreased by approximately $748,000 to approximately $334,000 for the nine months ended July 31, 2015 from approximately $1,082,000 in the prior year period.&nbsp; Interest expense for the nine months ended July 31, 2015 and 2014 includes approximately $-0- and $796,000, respectively, related to convertible debentures and approximately $334,000 and $286,000, respectively, of accreted interest on our patent acquisition obligation.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Dividend Income</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>There was no dividend income received in the nine months ended July 31, 2015.&nbsp;Dividend income of approximately $48,000 received in the nine months ended July 31, 2014 was related to our investment, at the time, in Videocon Industries Limited global depository receipts (the &#147;Videocon GDRs&#148;).&nbsp;We disposed of our investment in the Videocon GDRs in August 2014.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Interest Income </i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Interest income increased to approximately $14,000 in the nine months ended July 31, 2015 compared to approximately $5,000 in the nine months ended July 31, 2014 due to an increase in the amount invested in money market funds and certificates of deposit during the current period.</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>23</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><b><u><font style=COLOR:black>Three months ended July 31, 2015 compared with three months ended July 31, 2014</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt 0.5in; page:WordSection1; tab-stops:4.25in'><b><i><font style=COLOR:black>Revenue from Licensing Activities</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>For the three months ended July 31, 2015, we recorded revenue from licensing activities of $95,000 from 1 license agreement.&nbsp;The license agreement provided for a one-time, non-recurring, lump sum payment in exchange for non-exclusive retroactive and future licenses, or covenants not to sue.&nbsp;Accordingly, the earning process from this license was complete and 100% of the revenue was recognized upon execution of the license agreement.&nbsp;We did not enter into any license agreements during the three months ended July 31, 2014 and we did not record any revenue from licensing activities during that period.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt 0.5in; page:WordSection1; tab-stops:4.25in'><b><i><font style=COLOR:black>Display Technology Development and License Fees</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>For the three months ended July 31, 2014, 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 in fiscal year 2011.&nbsp;We did not record any display technology development and license fees during the three months ended July 31, 2015.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>I<font style=COLOR:black>nventor Royalties and Contingent Legal Fees </font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Inventor royalties and contingent legal fees were approximately $49,000 for the three months ended July 31, 2015, compared to $-0- in the comparable prior year period.&nbsp; Inventor royalties and 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 our operating subsidiaries.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i><font style=COLOR:black>Litigation and Licensing Expenses</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Litigation and licensing expenses were approximately $33,000 in the three months ended July 31, 2015, compared to approximately $163,000 in the comparable prior year period.&nbsp; Litigation and licensing expenses, other than contingent legal fees, are expensed in the period incurred.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i><font style=COLOR:black>Amortization of Patents</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Amortization of patents was approximately $81,000 and $81,000 for the three months ended July 31, 2015 and 2014, respectively.&nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life.&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i><font style=COLOR:black>Marketing, General and Administrative Expenses</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Marketing, general and administrative expenses increased by approximately $320,000 to approximately $1,423,000 in the three months ended July 31, 2015, from approximately $1,103,000 in the comparable prior-year period. &nbsp;The increase in marketing, general and administrative expenses was principally due to an increase in non-cash consultant stock option expense of approximately $439,000, an increase in legal and accounting fees of approximately $71,000, offset by a decrease in non-cash employee stock option expense of approximately $128,000 and a decrease in other miscellaneous expenses of approximately $114,000 </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>24</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Change in Value of Derivative Liability</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Change in value of derivative liability was $-0- in the three months ended July 31, 2015, compared to a gain of approximately $850,000 in the comparable prior year period.&nbsp;The derivative liability in the prior year period was related to the embedded conversion features associated with 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.&nbsp;As of October 31, 2014, the Company no longer had any convertible debentures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Interest Expense</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Interest expense decreased by approximately $165,000 to approximately $116,000 for the three months ended July 31, 2015 from approximately $281,000 in the prior year period.&nbsp;Interest expense for the three months ended July 31, 2015 and 2014 includes approximately $-0- and $181,000, respectively, related to convertible debentures and approximately $116,000 and $100,000, respectively, of accreted interest on our patent acquisition obligation.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><i>Interest Income </i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Interest income increased to approximately $5,000 in the three months ended July 31, 2015 compared to approximately $1,000 in the three months ended July 31, 2014 due to an increase in the amount invested in money market funds and certificates of deposit during the current period.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><b><u><font style=COLOR:black>LIQUIDITY AND CAPITAL RESOURCES</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>Our primary sources of liquidity are cash, cash equivalents and short-term investments.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>Based on currently available information as of August 18, 2015, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows from licensing and other potential sources of 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. &nbsp;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 or if we elect to purchase assets or a business for cash, 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. 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 <font size=+0>that other sources</font> of funding, such as sales of equity or debt, would be available, 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; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in white; roman?,?serif?; 0pt; 0.0in? new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-align:center; background: times align=center><font style=FONT-SIZE:10pt>25</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=COLOR:black> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'><a name=_aciHeader46>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style="BACKGROUND:white; COLOR:black">During the nine months ended July 31, 2015, cash generated from operating activities was approximately $2,165,000.&nbsp; Net cash provided by investing activities was approximately $45,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,650,000 and disbursement of $2,550,000 for the purchase&nbsp;of certificates of deposit and approximately $55,000 for the purchase of property and equipment.&nbsp; Cash used in financing activities was approximately $411,000, which included approximately $445,000 for the repurchase of 92,232 shares of our common stock, including 60,232 shares of common stock purchased in open market transactions at a cost of approximately $245,000, and cancellation warrants to purchase 16,000 shares of our common stock, offset by the proceeds from exercise of stock options of approximately $34,000. As a result, our cash, cash equivalents, and short-term investments at July 31, 2015 increased by approximately $1,700,000 to approximately $7,561,000 from approximately $5,861,000 at the end of fiscal year 2014.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><b><u><font style=COLOR:black>CRITIAL ACCOUNTING POLICIES</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>The Company&#146;s condensed 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 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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>We believe that, of the significant accounting policies discussed in Note 3 to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 31, 2014, the following accounting policies require our most difficult, subjective or complex judgments:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:115%; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:-0.25in; page:WordSection1'><font style=FONT-FAMILY:Symbol>&#183;</font><font style="FONT-SIZE:7pt; LINE-HEIGHT:115%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>Revenue Recognition;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:115%; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:-0.25in; page:WordSection1'><font style=FONT-FAMILY:Symbol>&#183;</font><font style="FONT-SIZE:7pt; LINE-HEIGHT:115%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>Investment Securities;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:115%; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:-0.25in; page:WordSection1'><font style=FONT-FAMILY:Symbol>&#183;</font><font style="FONT-SIZE:7pt; LINE-HEIGHT:115%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>Stock-Based Compensation; and</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 10pt 1in; LINE-HEIGHT:115%; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:-0.25in; page:WordSection1'><font style=FONT-FAMILY:Symbol>&#183;</font><font style="FONT-SIZE:7pt; LINE-HEIGHT:115%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font>Convertible Debentures</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b><font style=COLOR:black>Revenue Recognition<br></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>Revenue is recognized when (<font size=+0>i</font>) 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 <font size=+0>(iv) the</font> collectability of amounts is reasonably assured.</font></p> <p text-autospace: 0in text-align: roman?,?serif?; 0pt; 0.0in? center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>26</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center><font style=COLOR:black> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a><a name=_aciHeader46></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><b>Investment Securities</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>Through the date we terminated our business relationship with Videocon Industries Limited and its affiliate, August 29, 2014, we classified 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.</p> <h6 style='FONT-SIZE:7.5pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; MARGIN:12pt 0in 3pt; TEXT-INDENT:0.5in; page:WordSection1'><font style="FONT-SIZE:12pt; COLOR:black">Stock-Based Compensation <br></font></h6> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>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 $1,671,000 and $1,562,000 during the nine months ended July 31, 2015 and 2014, respectively, and approximately $445,000 and $573,000 during the three months ended July 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 nine months ended July 31, 2015 and 2014, of approximately $668,000 and&nbsp;$784,000, respectively, and for the three months ended July 31, 2015 and 2014 of approximately&nbsp; $335,000 and $(103,000), respectively.&nbsp; </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; page:WordSection1'><a name=_aciFooter49>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>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 3 to the condensed consolidated financial statements for additional information.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:40.5pt; page:WordSection1'><b>Convertible Instruments<a name=FORM10Q_HTM__ACIHEADER16> </a></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>The Company accounts for hybrid contracts that feature conversion options in accordance with applicable generally accepted accounting principles (&#147;GAAP&#148;).&nbsp; ASC &nbsp;815 &#147;Derivatives and Hedging Activities,&#148; (&#147;ASC 815&#148;) 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:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in text-align: 40.5pt? roman?,?serif?; 0pt; center; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' times align=center><font style=FONT-SIZE:10pt>27</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&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:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&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 &#147;Debt with Conversion and Other Options&#148; (&#147;ASC 470-20&#148;). 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:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><a name=_DV_M294><a name=_DV_M281><b><u>EFFECT OF RECENTLY ISSUED PRONOUNCEMENTS</u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (&#147;ASU 2014-09&#148;), 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. 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.&nbsp; 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:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In June 2014, the FASB issued Accounting Standards Update 2014-12 (&#147;ASU 2014-12&#148;), Compensation &#150; 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; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>In August 2014, the FASB issued Accounting Standards Update 2014-15 (&#147;ASU 2014-15&#148;). This amendment requires management to assess an entity&#146;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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>In April 2015, the FASB issued Accounting Standards Update 2015-03 (&#147;ASU 2015-03&#148;) to simplify the presentation of debt issuance costs. This amendments 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in ideograph-numeric; 0.0in; roman?,?serif?; 0pt; new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' mso-layout-grid-align: text-align:center; auto? times align=center><font style=FONT-SIZE:10pt>28</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><b><u><font style=COLOR:black>FORWARD-LOOKING STATEMENTS</font></u></b><a name=_DV_M296></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Information included in this Quarterly Report on Form 10-Q (this &#147;Report&#148;) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the &#147;Securities Act&#148;), and Section 21E of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;).&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 &#147;believes,&#148; &#147;expects,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;anticipates,&#148; &#147;likely,&#148; &#147;will&#148; 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 our Annual Report on Form 10-K for the fiscal year ended October 31, 2014 and the condensed consolidated financial statements included in this Report.&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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><a name=ITEM3><font size=+0><b><font style=COLOR:black>Item 3.</font></b></font><b><font style=COLOR:black>&nbsp; <u>Quantitative and Qualitative Disclosures <font size=+0>About</font> Market Risk.</u></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in; page:WordSection1; tab-stops:45.8pt 91.6pt 137.4pt 183.2pt 229.0pt 274.8pt 320.6pt 366.4pt 412.2pt 458.0pt 503.8pt 549.6pt 595.4pt 641.2pt 687.0pt 732.8pt' align=justify><a name=_DV_M301><a name=_DV_M297><a name=_DV_M265>As of July 31, 2015, we had investments in short-term, fixed rate and highly liquid instruments that have historically been reinvested when they mature throughout the year. Although our existing instruments are not considered at risk with respect to changes in interest rates or markets for these instruments, our rate of return on these securities could be affected at the time of reinvestment, if any.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'><a name=ITEM4><font size=+0><b><font style=COLOR:black>Item 4.</font></b></font><b><font style=COLOR:black>&nbsp; <font size=+0><u>Controls and Procedures.</u></font></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><a name=_DV_M302>We carried out an evaluation, under the supervision and with the participation of our management including our President and Chief Executive Officer and our Vice President &#150; Finance and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13-15(b) of the Securities Exchange Act of 1934, as amended.&nbsp; Based upon that evaluation, our President and Chief Executive Officer and our Vice President &#150; Finance and Chief Financial Officer concluded that our disclosure controls and procedures are effective as of the end of the period covered by this report.&nbsp; </a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><a name=_DV_M303>There was no change in our internal control over financial reporting during the third quarter of fiscal year 2015 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p text-autospace: 0in roman?,?serif?; 0pt; 0.0in? new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-align:center; times align=center><font style=FONT-SIZE:10pt>29</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1' align=center><a name=PARTII><font size=+0><b><u><font style=COLOR:black>PART II.</font></u></b></font><b><u><font style=COLOR:black>&nbsp; OTHER INFORMATION</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=_DV_M305><a name=LEGAL><b>Item 1. </b><b><font size=+0><u>Legal Proceedings.</u></font></b>&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; TEXT-AUTOSPACE:ideograph-numeric; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>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.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:40.5pt'><a name=RISK><font size=+0><b><font style=COLOR:black>Item 1A.</font></b></font><b><font style=COLOR:black>&nbsp;<font size=+0><u>Risk Factors</u>.</font></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:40.5pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>There have been no material changes in our risk factors from those disclosed in our Annual Report on Form 10-K for the fiscal year ended October 31, 2014.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=ES><font size=+0><b>Item 2.</b></font><b>&nbsp; <font size=+0><u>Unregistered Sales of Equity Securities and Use of Proceeds</u>.</font> </b>&nbsp;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>During the three months ended July 31, 2015, the Company issued 10,000 shares of our common stock to a company in payment of public relations and investor relations services. &nbsp;The common stock was issued in reliance on an exemption from registration under Section 4(2) of the Securities Act.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>During the three months ended July 31, 2015, the Company repurchased 60,232 shares of our common stock in open market transactions as follows:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center>&nbsp;</p> <div style=page:WordSection1 align=center> <table width=733 style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.25pt> <td width=30% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:30%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">Period</font></p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">number of shares purchased</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=16% colspan=2 style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:16%; BORDER-BOTTOM:black 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10pt>Average price paid per share</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Total number of shares purchased as part of publicly announced plan (1)</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=18% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">Maximum number (or approximate dollar value) of shares that may yet be purchased under the plan</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=30% style="HEIGHT:15.25pt; WIDTH:30%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">June 1 to June&nbsp; 30, 2015</font></p></td> <td width=15% style="HEIGHT:15.25pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">33,757</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">3.66 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="HEIGHT:15.25pt; WIDTH:15%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">33,757</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="HEIGHT:15.25pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=30% style="HEIGHT:15.25pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style="FONT-SIZE:10pt; COLOR:black">July 2 to July&nbsp;&nbsp; 27, 2015</font></p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">26,475</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=14% style="HEIGHT:15.25pt; WIDTH:14%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">4.60 </font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:15%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">26,475</font></p></td> <td width=2% style="HEIGHT:15.25pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="HEIGHT:15.25pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:15.95pt> <td width=30% style="HEIGHT:15.95pt; WIDTH:30%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt 10pt'><font style="FONT-SIZE:10pt; COLOR:black">Total</font></p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:15.95pt; BORDER-RIGHT:0px; WIDTH:15%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">60,232</font></p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">$</font></p></td> <td width=14% style="HEIGHT:15.95pt; WIDTH:14%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right><font style="FONT-SIZE:10pt; COLOR:black">4.07 </font></p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=15% style="BORDER-TOP:0px; HEIGHT:15.95pt; BORDER-RIGHT:0px; WIDTH:15%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">60,232</font></p></td> <td width=2% style="HEIGHT:15.95pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center>&nbsp;</p></td> <td width=18% style="HEIGHT:15.95pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style="FONT-SIZE:10pt; COLOR:black">$4,755,000 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 10pt; LINE-HEIGHT:115%; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'><font style=COLOR:black>(1) The Company announced the authorization of an up to $5,000,000 stock repurchase program on October 29, 2014. The repurchase program expires on October 29, 2016.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p text-autospace: 40.5pt; 0in text-align: -.5in? roman?,?serif?; 0pt; center; mso-hyphenate: new margin: text-indent: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' tab-stops: times none; align=center><font style=FONT-SIZE:10pt>30</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:40.5pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p></a> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=SS><font size=+0><b>Item 3.</b></font><b> <u>Defaults <font size=+0>Upon</font> Senior Securities</u></b>.<b>&nbsp;</b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;<font size=+0>None.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=Mine><font size=+0><b>Item 4</b>.</font> <b><u>Mine Safety Disclosures</u></b>.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>Not Applicable.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in'><a name=other><font size=+0><b>Item 5.</b></font><b> <font size=+0><u>Other Information</u><font style=FONT-WEIGHT:normal>.</font></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; None.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'><font style=COLOR:black>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There have been no material changes to the procedures by which security holders may recommend nominees to the Company&#146;s board of directors.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in 0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in 0in'><a name=Exhibits6><font size=+0><b><font style=COLOR:black>Item 6.</font></b></font><b><font style=COLOR:black>&nbsp; <font size=+0><u>Exhibits.</u></font></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1> <table width=933 style="WIDTH:700pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>31.1</font></p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Certification of Chief Executive Officer, pursuant to Section 302 of&nbsp;&nbsp; the Sarbanes-Oxley Act of 2002, dated August 18, 2015.</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>31.2</font></p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated August 18, 2015.</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>32.1</font></p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Statement of Chief Executive Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated August 18, 2015.</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=8% style="HEIGHT:15.25pt; WIDTH:8%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>32.2</font></p></td> <td width=92% style="HEIGHT:15.25pt; WIDTH:92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=top> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Statement of Chief Financial Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated August 18, 2015.</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1'>&nbsp;</p> <p 0pt 0in 1in; text-align: roman?,?serif?; center; new margin: style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' text-autospace:? times align=center><font style=FONT-SIZE:10pt>31</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1' align=center> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; page:WordSection1'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; MARGIN:0in 0in 0pt; tab-stops:.5in 45.0pt .75in 63.0pt'><a href=#TOC><font style=FONT-SIZE:10pt color=#0066cc>Table of Contents</font></a><a name=Exhibits6></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center><a name=sign><b><u><font style=COLOR:black>SIGNATURES</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt 1.5in; TEXT-INDENT:-33pt; page:WordSection1; tab-stops:-.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:-.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-INDENT:0.5in; page:WordSection1'>Pursuant to the requirements 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; page:WordSection1; tab-stops:0in .3in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in 5.0in 5.5in 6.0in 474.0pt right 7.5in left 8.5in right 678.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; page:WordSection1'>&nbsp;</p> <div style=page:WordSection1> <table width=767 style=WIDTH:575pt cellpadding=0 cellspacing=0> <tr style=HEIGHT:14.5pt> <td width=40% style="HEIGHT:14.5pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:14.5pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=43% colspan=2 style="HEIGHT:14.5pt; WIDTH:43%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>ITUS CORPORATION</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>By:</font></p></td> <td width=40% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>President and Chief Executive Officer&nbsp;&nbsp; </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>August 18, 2015</font></p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>(Principal Executive Officer)</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>By:</font></p></td> <td width=40% style="BORDER-TOP:0px; HEIGHT:15.25pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; BORDER-LEFT:0px; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>&nbsp;/s/ Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Vice President - Finance and </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>Chief Financial Officer </font></p></td></tr> <tr style=HEIGHT:15.25pt> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>August 18, 2015</font></p></td> <td width=17% style="HEIGHT:15.25pt; WIDTH:17%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=3% style="HEIGHT:15.25pt; WIDTH:3%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt' align=right>&nbsp;</p></td> <td width=40% style="HEIGHT:15.25pt; WIDTH:40%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:1.5pt; PADDING-RIGHT:1.5pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt'><font style=COLOR:black>(Principal Financial and Accounting Officer)</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; page:WordSection1; tab-stops:0in .3in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in 5.0in 5.5in 6.0in 474.0pt right 7.5in left 8.5in right 678.0pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; page:WordSection1; tab-stops:0in .3in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in 5.0in 5.5in 6.0in 474.0pt right 7.5in left 8.5in right 678.0pt'>&nbsp;</p><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'> <div style=page:WordSection1><br clear=all style=PAGE-BREAK-BEFORE:always></div></font> <p 8.5in text-autospace: 0in 1.0in 474.0pt right text-align: 2.0in line-height: 3.0in left roman?,?serif?; 0pt; 4.0in center; 5.0in mso-hyphenate: new margin: .3in 1.5in 6.0in 2.5in 678.0pt? style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; MARGIN-RIGHT:0in; page:WordSection1' 3.5in 90%; 4.5in 5.5in tab-stops: times 7.5in none; align=center>&nbsp;<font style=FONT-SIZE:10pt>32</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; page:WordSection1; tab-stops:0in .3in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in 5.0in 5.5in 6.0in 474.0pt right 7.5in left 8.5in right 678.0pt'>&nbsp;</p></a></body>
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<TYPE>EX-31.1
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<DESCRIPTION>EXHIBIT 31.1
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<head> <title>EXHIBIT 31.1</title> </head> <body style=tab-interval:.5in lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u>Exhibit 31.1</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u>CERTIFICATION</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>I, Robert Berman, certify that:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this quarterly report on Form 10-Q of ITUS Corporation; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a&#8209;15(e) and 15d&#8209;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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style=LAYOUT-GRID-MODE:line>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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;</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style="LAYOUT-GRID-MODE:line; COLOR:black">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; D</font>esigned 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style="LAYOUT-GRID-MODE:line; COLOR:black">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style=LAYOUT-GRID-MODE:line>Evaluated the effectiveness of the registrant&#146;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</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style="LAYOUT-GRID-MODE:line; COLOR:black">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style=LAYOUT-GRID-MODE:line>Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions): </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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&#146;s ability to record, process, summarize and report financial information; and </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <table width=500 style="WIDTH:500pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">&nbsp;&nbsp; </font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>President and Chief Executive Officer </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">August 18, 2015</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>(Principal Executive Officer)</font></p></td></tr></table> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></div></body>
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<TYPE>EX-31.2
<SEQUENCE>3
<FILENAME>exhibit31_2.htm
<DESCRIPTION>EXHIBIT 31.2
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<head> <title>EXHIBIT 31.2</title> </head> <body style=tab-interval:.5in lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u>Exhibit 31.2</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u>CERTIFICATION</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>I, Henry P. Herms, certify that:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; I have reviewed this quarterly report on Form 10-Q of ITUS Corporation; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a&#8209;15(e) and 15d&#8209;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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style=LAYOUT-GRID-MODE:line>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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;</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style="LAYOUT-GRID-MODE:line; COLOR:black">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; D</font>esigned 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style="LAYOUT-GRID-MODE:line; COLOR:black">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style=LAYOUT-GRID-MODE:line>Evaluated the effectiveness of the registrant&#146;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</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'><font style="LAYOUT-GRID-MODE:line; COLOR:black">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style=LAYOUT-GRID-MODE:line>Disclosed in this report any change in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s most recent fiscal quarter (the registrant&#146;s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting; and</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The registrant&#146;s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant&#146;s auditors and the audit committee of the registrant&#146;s board of directors (or persons performing the equivalent functions): </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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&#146;s ability to record, process, summarize and report financial information; and </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#146;s internal control over financial reporting. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <table width=500 style="WIDTH:500pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>/s/ Henry P. Herms </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">Vice President - Finance and</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Chief Financial Officer (Principal</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>August 18, 2015</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Financial and Accounting Officer)</font></p></td></tr></table> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></div></body>
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<TYPE>EX-32.1
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<FILENAME>exhibit32_1.htm
<DESCRIPTION>EXHIBIT 32.1
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<head> <title>EXHIBIT 32.1</title> </head> <body style=tab-interval:.5in lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; TEXT-AUTOSPACE:; tab-stops:0in .3in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in 5.0in 5.5in 6.0in 474.0pt right 7.5in left 8.5in right 678.0pt' align=center><u>Exhibit 32.1</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>Statement of Chief Executive Officer</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>Pursuant to Section 1350 of Title 18 of the United States Code</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>Pursuant to Section 1350 of Title 18 of the United States Code, the undersigned, Robert A. Berman, the President and Chief Executive Officer of ITUS Corporation, hereby certifies that:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <ol type=1 style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; tab-stops:list .5in'>The Company's Form 10-Q Quarterly Report for the period ended July 31, 2015 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and </li></ol> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.25in; TEXT-AUTOSPACE:'>&nbsp;</p> <ol type=1 style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in" start=2> <li style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; tab-stops:list .5in'>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. </li></ol> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.25in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <table width=500 style="WIDTH:500pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">President and Chief Executive Officer </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>August 18, 2015</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>(Principal Executive Officer)</font></p></td></tr></table> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></div></body>
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<TYPE>EX-32.2
<SEQUENCE>5
<FILENAME>exhibit32_2.htm
<DESCRIPTION>EXHIBIT 32.2
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<head> <title>EXHIBIT 32.2</title></head> <body style=tab-interval:.5in lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; TEXT-AUTOSPACE:; tab-stops:0in .3in 1.0in 1.5in 2.0in 2.5in 3.0in 3.5in 4.0in 4.5in 5.0in 5.5in 6.0in 474.0pt right 7.5in left 8.5in right 678.0pt' align=center><u>Exhibit 32.2</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>Statement of Chief Financial Officer</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>Pursuant to Section 1350 of Title 18 of the United States Code</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>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 style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <ol type=1 style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in"> <li style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; tab-stops:list .5in'>The Company's Form 10-Q Quarterly Report for the period ended July 31, 2015 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and </li></ol> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <ol type=1 style="MARGIN-BOTTOM:0in; MARGIN-TOP:0in" start=2> <li style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; tab-stops:list .5in'>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. </li></ol> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 0.25in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <table width=500 style="WIDTH:500pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">/s/ Henry P. Herms </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="COLOR:black; LETTER-SPACING:-0.15pt">Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Vice President - Finance and </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Chief Financial Officer (Principal</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=251 nowrap style="HEIGHT:15.75pt; WIDTH:188pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>August 18, 2015</font></p></td> <td width=27 nowrap style="HEIGHT:15.75pt; WIDTH:20pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=COLOR:black>Financial and Accounting Officer)</font></p></td></tr></table> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></div></body>
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  <dei:CurrentFiscalYearEndDate contextRef="c8_From1Nov2014To31Jul2015">--10-31</dei:CurrentFiscalYearEndDate>
  <dei:EntityCommonStockSharesOutstanding unitRef="shares" contextRef="c23_AsOf14Aug2015" decimals="INF">8720878</dei:EntityCommonStockSharesOutstanding>
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  <dei:EntityCentralIndexKey contextRef="c8_From1Nov2014To31Jul2015">0000715446</dei:EntityCentralIndexKey>
  <dei:EntityCurrentReportingStatus contextRef="c8_From1Nov2014To31Jul2015">Yes</dei:EntityCurrentReportingStatus>
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  <dei:EntityFilerCategory contextRef="c8_From1Nov2014To31Jul2015">Smaller Reporting Company</dei:EntityFilerCategory>
  <dei:EntityWellKnownSeasonedIssuer contextRef="c8_From1Nov2014To31Jul2015">No</dei:EntityWellKnownSeasonedIssuer>
  <dei:DocumentFiscalYearFocus contextRef="c8_From1Nov2014To31Jul2015">2015</dei:DocumentFiscalYearFocus>
  <dei:DocumentFiscalPeriodFocus contextRef="c8_From1Nov2014To31Jul2015">Q3</dei:DocumentFiscalPeriodFocus>
  <dei:DocumentPeriodEndDate contextRef="c8_From1Nov2014To31Jul2015">2015-07-31</dei:DocumentPeriodEndDate>
  <us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div style=&quot;margin-bottom: 12.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;div style=&quot;float: left; width: 36.0pt;&quot;&gt;
    &lt;font&gt;1.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div&gt;
    &lt;font style=&quot;text-decoration: underline;&quot;&gt;BUSINESS&amp;nbsp;AND&amp;nbsp;FUNDING&lt;/font&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;margin-bottom: 12.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Description of Business&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;As used herein, &amp;#x201c;we,&amp;#x201d; &amp;#x201c;us,&amp;#x201d; &amp;#x201c;our,&amp;#x201d; the &amp;#x201c;Company&amp;#x201d; or &amp;#x201c;ITUS&amp;#x201d; means ITUS Corporation and its wholly-owned subsidiaries. &amp;nbsp;The primary operations of the Company involve the development, acquisition and licensing of emerging technologies.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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 these activities, we may make investments in companies with emerging technologies, acquire companies with emerging technologies, acquire or license emerging technologies for development within our subsidiary companies, and create and capitalize subsidiary companies for the purpose of developing and commercializing technologies that we create. While we expect to continue to generate revenue from licensing, we may also derive revenue from products and services sold and provided by companies in which we make investments, and technologies that we acquire, develop or create. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The Company currently owns, controls, or is developing technologies in the primary areas of: thin-film displays, encrypted communications, advanced materials applications, and cancer diagnostics. In June 2015, we formed Anixa Diagnostics Corporation, a wholly owned subsidiary of ITUS that is developing non-invasive, cancer screening tests. We are continuing our licensing programs in connection with our patented encrypted communications, and advanced materials applications technologies. In addition we have resumed our Nano field emission display development program. The Company is looking to invest its resources in other emerging technology areas. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;font-size: 10.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;font style=&quot;font-family: times new roman,times; font-size: small; text-decoration: underline;&quot;&gt;Funding and Management&amp;#x2019;s Plans&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;During the nine months ended July 31, 2015, cash generated&amp;nbsp;from operating activities was approximately $2,165,000. Net cash provided by investing activities was approximately $45,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,650,000 and disbursement of $2,550,000 for the purchase&amp;nbsp;of certificates of deposit and approximately $55,000 for the purchase of property and equipment.&amp;nbsp; Cash used in financing activities was approximately $411,000, which included approximately $445,000 for the repurchase of 92,232 shares of our common stock, including 60,232 shares of common stock purchased in open market transactions at a cost of approximately $245,000, and cancellation warrants to purchase 16,000 shares&amp;nbsp;of our common stock, offset by the proceeds from exercise of stock options of approximately $34,000. As a result, our cash, cash equivalents, and short-term investments at July 31, 2015 increased by approximately $1,700,000 to approximately $7,561,000 from approximately $5,861,000 at the end of fiscal year 2014.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Based on currently available information as of August 18, 2015, we believe that our existing cash, cash equivalents, short-term investments&amp;nbsp;and expected cash flows from licensing and other potential sources of 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.&amp;nbsp; If current cash on hand, cash equivalents, short term investments&amp;nbsp;and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements or if we elect to purchase assets or a business for cash, 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.&amp;nbsp; 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, 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;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Reverse Stock Split&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 40.5pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;On June 26, 2015, we effected a 1-for-25 reverse stock split (the &amp;#x201c;Stock Split&amp;#x201d;) of our issued common stock and preferred stock. Each shareholders&amp;#x2019; percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. All applicable share data, per share amounts and related information in the condensed consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the Stock Split. 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;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Basis of Presentation&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, certain information and footnotes required by generally accepted accounting principles in annual financial statements have been omitted or condensed. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended October 31, 2014, as reported by us in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (&amp;#x201c;SEC&amp;#x201d;) on January 29, 2015. The October 31, 2014&amp;nbsp;consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July 31, 2015, and results of operations and cash flows for the interim periods represented. The results of operations for the three and nine months ended July 31, 2015 are not necessarily indicative of the results to be expected for the entire year.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Revenue Recognition&lt;/font&gt;&amp;nbsp;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Licensing&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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 our operating subsidiaries.&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 our operating subsidiaries, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv)&amp;nbsp;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, our operating subsidiaries 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 had been met.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Intangible Assets&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;a name=&quot;_DV_M82&quot;&gt;&lt;/a&gt;
   &lt;font&gt;Our only identifiable intangible assets are patents and patent rights. We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. Patent acquisition costs capitalized during the nine months ended July 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. We did not capitalize any patent acquisition costs during the three months ended July 31, 2015 and 2014. We recorded patent amortization expense of approximately $244,000 and $233,000 during the nine months ended July 31, 2015 and 2014, respectively, and approximately $81,000 and $81,000 during the three months ended July, 2015 and 2014, respectively.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
  <us-gaap:ProceedsFromOperatingActivities unitRef="usd" contextRef="c8_From1Nov2014To31Jul2015" decimals="0">2165000</us-gaap:ProceedsFromOperatingActivities>
  <us-gaap:PaymentsForRepurchaseOfCommonStock unitRef="usd" contextRef="c8_From1Nov2014To31Jul2015" decimals="0">445000</us-gaap:PaymentsForRepurchaseOfCommonStock>
  <itus:TreasuryStockSharesAcquiredInOpenMarketTransactions unitRef="usd" contextRef="c8_From1Nov2014To31Jul2015" decimals="0">60232</itus:TreasuryStockSharesAcquiredInOpenMarketTransactions>
  <itus:PaymentsForPurchaseOfCommonStockInOpenMarketTransactions unitRef="usd" contextRef="c8_From1Nov2014To31Jul2015" decimals="0">245000</itus:PaymentsForPurchaseOfCommonStockInOpenMarketTransactions>
  <us-gaap:CashCashEquivalentsAndShortTermInvestments unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">7561000</us-gaap:CashCashEquivalentsAndShortTermInvestments>
  <us-gaap:CashCashEquivalentsAndShortTermInvestments unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">5861000</us-gaap:CashCashEquivalentsAndShortTermInvestments>
  <us-gaap:PaymentsToAcquireIntangibleAssets unitRef="usd" contextRef="c9_From1Nov2013To31Jul2014" decimals="0">3036000</us-gaap:PaymentsToAcquireIntangibleAssets>
  <us-gaap:PaymentsToAcquireIntangibleAssets unitRef="usd" contextRef="c8_From1Nov2014To31Jul2015" decimals="0">0</us-gaap:PaymentsToAcquireIntangibleAssets>
  <us-gaap:LegalMattersAndContingenciesTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div style=&quot;text-align: justify; font-size: 10.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;div style=&quot;float: left; width: 36.0pt;&quot;&gt;
    &lt;font style=&quot;font-family: times new roman,times; font-size: small;&quot;&gt;2.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div&gt;
    &lt;font style=&quot;font-family: times new roman,times; font-size: small; text-decoration: underline;&quot;&gt;AUO SETTLEMENT&lt;/font&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;div style=&quot;float: left; width: 36.0pt;&quot;&gt;
    &amp;nbsp;
   &lt;/div&gt;
   &lt;div&gt;
    &lt;font&gt;On December 29, 2014, the Company and AU&amp;nbsp;Optronics Corporation (&amp;#x201c;AUO&amp;#x201d;) 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 the Company&amp;#x2019;s patented ePaper&amp;reg; Electrophoretic Display, and Nano Field Emission Display technologies. The Company received an aggregate of $9,000,000 from AUO, and transferred certain electrophoretic display patents to AUO. For more information regarding our lawsuit against AUO and the Settlement Agreement and Patent Assignment Agreement with AUO, please refer to our Annual Report on Form 10-K filed with the SEC on January 29, 2015.&lt;/font&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;</us-gaap:LegalMattersAndContingenciesTextBlock>
  <us-gaap:ProceedsFromLegalSettlements unitRef="usd" contextRef="c24_From28Dec2014To29Dec2014_SettlementAgreementAndPatentAgreementMember" decimals="0">9000000</us-gaap:ProceedsFromLegalSettlements>
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  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
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    &lt;font&gt;3. &lt;/font&gt;
   &lt;/div&gt;
   &lt;div&gt;
    &lt;font style=&quot;text-decoration: underline;&quot;&gt;STOCK BASED COMPENSATION&lt;/font&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The Company maintains stock equity incentive plans under which the Company grants non-qualified stock options, stock appreciation rights, stock awards, performance awards, or stock units to employees, directors and consultants.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Stock Option Compensation Expense &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;We account for stock options granted to employees and directors using the accounting guidance in Accounting Standards Codification 718 &amp;#x201c;Stock Compensation&amp;#x201d; (&amp;#x201c;ASC 718&amp;#x201d;). In accordance with ASC 718, we estimate the fair value of service based stock options and performance based options on the date of grant, using the Black-Scholes pricing model. For options vesting if the trading price of the Company&amp;#x2019;s common stock exceeds price targets we use a Monte Carlo Simulation in estimating the fair value at grant date. 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. For performance based awards, compensation expense is recognized over the requisite or implied service period of the grant when the performance target is deemed probable. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $1,671,000 and $1,562,000, during the nine&amp;nbsp;months ended July 31, 2015 and 2014, respectively, and approximately $445,000 and $573,000 during the three months ended July 31, 2015 and 2014, respectively.&amp;nbsp;Stock-based compensation expense for the nine months ended July 31, 2015 and 2014 includes approximately $1,587,000 and $1,089,000, respectively, and during the three months ended July 31, 2015 and 2014 approximately $408,000 and $496,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of July 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 $644,000, which will be recognized over a weighted-average period of 1 year. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &amp;nbsp;
   &lt;font&gt;We account for stock options granted to consultants using the accounting guidance&amp;nbsp;included in ASC 505-50 &amp;#x201c;Equity-Based Payments to Non-Employees&amp;#x201d; (&amp;#x201c;ASC 505-50&amp;#x201d;). 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. For options vesting if the trading price of the Company&amp;#x2019;s common stock exceeds price targets we estimate the fair value at each reporting period using&amp;nbsp;a Monte Carlo Simulation. 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. For performance based awards, compensation expense is recognized when the performance target is achieved.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;We recorded consulting expense, related to stock options granted to consultants, during the nine&amp;nbsp;months ended July 31, 2015 and 2014&amp;nbsp;of approximately $668,000 and $784,000, respectively, and approximately $335,000 and $(103,000) during the three months ended July 31, 2015 and 2014, respectively. &amp;nbsp;Stock-based consulting expense for the nine&amp;nbsp;and three months ended July 31, 2015 represents the amortization of &lt;font&gt;compensation cost for stock options granted in prior periods but vested in the current period. Stock-based consulting expense for the nine and three ended July 31, 2014 includes approximately $736,000 and $(107,000), respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of July 31, 2015, there was unrecognized consulting expense related to non-vested stock options granted to consultants, related to service based options of approximately $221,000, which will be recognized over a weighted-average period of .5 years.&lt;/font&gt;&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Fair Value Determination&amp;nbsp;&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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. To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. The fair value of stock options granted to consultants is determined on an individual basis. Stock options we granted during the nine&amp;nbsp;months ended July 31, 2015 consisted of awards exercisable for 10&amp;nbsp;years that vest over one year or over three years. The stock options we granted during the nine&amp;nbsp;months ended July 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. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-size: 10.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;font style=&quot;font-family: times new roman,times; font-size: small;&quot;&gt;The following weighted average assumptions were used in estimating the fair value of stock options granted during the nine months ended July 31, 2015 and 2014, and the three months ended July 31, 2015 and 2014.&amp;nbsp;&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
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      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;26%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;For the Nine Months&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Ended July 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;26%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;For the Three Months&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Ended July 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Weighted average fair value at grant date&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.40 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$5.50 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.09 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$6.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Valuation assumptions:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Expected life (years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.36&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.79&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.98&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Expected volatility&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;114.8%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;115.4%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;117.8%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;115.1%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Risk-free interest rate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.66%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.82%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2.01%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.93%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Expected dividend yield&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. We use the simplified method to determine expected term. 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. 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. 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 &lt;font&gt;expected term of the underlying grants. 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;/font&gt;&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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. 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. Based on our historical experience we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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. 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.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Stock Option Activity&amp;nbsp;&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;During the nine months ended July 31, 2015 and 2014, we granted options to purchase 60,400 and 520,400 shares, respectively, of common stock at weighted average exercise prices of $2.91 and $5.50 per share, respectively, pursuant to the&amp;nbsp;ITUS Corporation 2010 Share Incentive Plan (the &quot;2010 Share Plan&amp;#x201d;). During the nine months ended July 31, 2015, stock options to purchase 13,334 shares of common stock were exercised with aggregate proceeds of approximately $34,000. During the nine months ended July 31, 2014, stock options to purchase 13,800 shares of common stock were exercised with aggregate proceeds of approximately $51,000. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;margin-bottom: 12.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Stock&amp;nbsp;Option&amp;nbsp;Plans&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;As of July 31, 2015, we have two stock option plans: the ITUS Corporation 2003 Share Incentive Plan (the &quot;2003 Share Plan&quot;) and the 2010 Share Plan, which were adopted by our Board of Directors on April 21, 2003 and July 14, 2010, respectively. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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. In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the ability to grant future options on April 21, 2013. Information regarding the 2003 Share Plan for the nine months ended July 31, 2015 is as follows:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;&amp;nbsp;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;17%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding at October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;493,991 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$18.00 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;(82,191)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$15.57 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding and exercisable at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;411,800 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$17.22 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;156,896 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-size: 10.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;font style=&quot;font-family: Times New Roman; font-size: small;&quot;&gt;&lt;font style=&quot;font-family: times new roman,times;&quot;&gt;The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of July 31, 2015:&lt;/font&gt; &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;20%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp; $ 1.79 - $ 9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;77,880&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.91&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2.89 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$10.75 - $17.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;101,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.04&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;15.21 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp; $18.50 - $23.00&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;192,720&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.39&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;21.57 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;40,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2.06&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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. As of July 31, 2015, the 2010 Share Plan had 982,955 shares available for future grants. Information regarding the 2010 Share Plan for the nine months ended July&amp;nbsp;31, 2015 is as follows: &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;17%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding at October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;728,560 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$5.75 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Granted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;60,400 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.91 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Exercised&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;(13,334)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.58 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;(243,355)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$6.39 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding&amp;nbsp; at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;532,271 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.32 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;986,700 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.95pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Exercisable at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;383,982 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.45 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;652,231 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-size: 12.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;font style=&quot;font-family: times new roman,times; font-size: small;&quot;&gt;The following table summarizes information about stock options outstanding under the 2010 Share Plan as of July 31, 2015:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.58 - $9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;532,271&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.32 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;383,982&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;6.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.45 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 1pt; color: black; font-family: times new roman;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;margin-bottom: 12.0pt; text-align: justify; text-indent: 36.0pt; font-size: 12.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;font style=&quot;font-size: small;&quot;&gt;&lt;font style=&quot;font-family: times new roman,times;&quot;&gt;In addition to options granted under the 2003 Share Plan and the 2010 Share Plan,&amp;nbsp;the Board of Directors approved the grant of stock options to purchase 1,780,000&amp;nbsp;shares. Information regarding stock options outstanding that were not granted under the 2003 Plan or the 2010 Plan for the nine months ended July 31, 2015 is as follows:&lt;/font&gt; &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Intrinsic&lt;/font&gt;&lt;br /&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding at October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$5.50 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding&amp;nbsp; at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,958,650 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Exercisable at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,689,179&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,748,399 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;margin-bottom: 12.0pt; text-align: justify; text-indent: 36.0pt; font-size: 12.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;font style=&quot;font-family: times new roman,times; font-size: small;&quot;&gt;The following table summarizes information about stock options outstanding that were not granted under the 2003 Share Plan or the 2010 Share Plan as of July 31, 2015:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
     &amp;nbsp;
   &lt;/div&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;div align=&quot;center&quot;&gt;
     &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.58-$5.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7.01&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,689,179&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7.01&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 1pt; color: black; font-family: times new roman;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;

     &lt;/table&gt;
    &lt;/div&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&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. On February 5, 2015, management&amp;nbsp;acted to re-price 2,184,126 issued and outstanding stock options (the &amp;#x201c;Re-Priced Options&amp;#x201d;) 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&amp;#x2019;s common stock on February 5, 2015. All other terms of the previously granted Re-Priced Options remain the same. The Company recorded additional stock-based compensation of approximately $297,000, as of February 5, 2015, related to this re-pricing. 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;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;a name=&quot;_DV_M176&quot;&gt;&lt;/a&gt;
   &lt;font style=&quot;text-decoration: underline;&quot;&gt;Stock Awards &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;We account for stock awards granted to employees and consultants based on their grant date fair value, in accordance with ASC 718 and ASC 505-50, respectively. During the nine&amp;nbsp;months ended July 31, 2015 and 2014, we issued 11,600 shares and 5,200 shares, respectively, of common stock to consultants for services rendered. We recorded consulting expense for the nine months ended July 31, 2015 and 2014 of approximately $46,000 and $41,000, respectively, for the shares of common stock issued to consultants. During the three months ended July 31, 2015 and 2014, we issued 10,000 shares and 800 shares, respectively, of common stock to consultants for services rendered. We recorded consulting expense for the three months ended July 31, 2015 and 2014 of approximately $40,000 and $6,000, respectively, for the shares of common stock issued to consultants. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:AllocatedShareBasedCompensationExpense unitRef="usd" contextRef="c25_From1Nov2014To31Jul2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">1671000</us-gaap:AllocatedShareBasedCompensationExpense>
  <us-gaap:AllocatedShareBasedCompensationExpense unitRef="usd" contextRef="c26_From1Nov2013To31Jul2014_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">1562000</us-gaap:AllocatedShareBasedCompensationExpense>
  <us-gaap:AllocatedShareBasedCompensationExpense unitRef="usd" contextRef="c27_From1May2015To31Jul2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">445000</us-gaap:AllocatedShareBasedCompensationExpense>
  <us-gaap:AllocatedShareBasedCompensationExpense unitRef="usd" contextRef="c28_From1May2014To31Jul2014_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">573000</us-gaap:AllocatedShareBasedCompensationExpense>
  <itus:AmortizationOfCompensationCosts unitRef="usd" contextRef="c25_From1Nov2014To31Jul2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">1587000</itus:AmortizationOfCompensationCosts>
  <itus:AmortizationOfCompensationCosts unitRef="usd" contextRef="c26_From1Nov2013To31Jul2014_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">1089000</itus:AmortizationOfCompensationCosts>
  <itus:AmortizationOfCompensationCosts unitRef="usd" contextRef="c27_From1May2015To31Jul2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">408000</itus:AmortizationOfCompensationCosts>
  <itus:AmortizationOfCompensationCosts unitRef="usd" contextRef="c28_From1May2014To31Jul2014_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">496000</itus:AmortizationOfCompensationCosts>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions unitRef="usd" contextRef="c29_AsOf31Jul2015_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">644000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="c25_From1Nov2014To31Jul2015_StockOptionsGrantedToEmployeesAndDirectorsMember">P1Y</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c30_From1Nov2014To31Jul2015_StockOptionsGrantedToConsultantMember" decimals="0">668000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c31_From1Nov2013To31Jul2014_StockOptionsGrantedToConsultantMember" decimals="0">784000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c32_From1May2015To31Jul2015_StockOptionsGrantedToConsultantMember" decimals="0">335000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c33_From1May2014To31Jul2014_StockOptionsGrantedToConsultantMember" decimals="0">-103000</itus:ConsultationFeesRelatedToOptions>
  <itus:AmortizationOfCompensationCosts unitRef="usd" contextRef="c31_From1Nov2013To31Jul2014_StockOptionsGrantedToConsultantMember" decimals="0">736000</itus:AmortizationOfCompensationCosts>
  <itus:AmortizationOfCompensationCosts unitRef="usd" contextRef="c33_From1May2014To31Jul2014_StockOptionsGrantedToConsultantMember" decimals="0">-107000</itus:AmortizationOfCompensationCosts>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions unitRef="usd" contextRef="c34_AsOf31Jul2015_StockOptionsGrantedToConsultantMember" decimals="0">221000</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions>
  <us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1 contextRef="c30_From1Nov2014To31Jul2015_StockOptionsGrantedToConsultantMember">P6M</us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="c35_From1Nov2014To31Jul2015_EmployeeStockOptionMember">P10Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="c36_From1Nov2014To31Jul2015_EmployeeStockOptionMember_MinimumMember">P1Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="c37_From1Nov2014To31Jul2015_EmployeeStockOptionMember_MaximumMember">P3Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="c38_From1Nov2013To31Jul2014_OptionsGrantedWith1YearVestingPeriodMember_EmployeeStockOptionMember">P10Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="c38_From1Nov2013To31Jul2014_OptionsGrantedWith1YearVestingPeriodMember_EmployeeStockOptionMember">P1Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="c39_From1Nov2013To31Jul2014_OptionsGrantedWith36MonthsOfVestingPeriodMember_EmployeeStockOptionMember">P10Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1 contextRef="c39_From1Nov2013To31Jul2014_OptionsGrantedWith36MonthsOfVestingPeriodMember_EmployeeStockOptionMember">P36M</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="c40_From1Nov2013To31Jul2014_OptionsGrantedWith5YearsTermMember_EmployeeStockOptionMember">P5Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod contextRef="c41_From1Nov2013To31Jul2014_OptionsGrantedWith10YearsTermMember_EmployeeStockOptionMember">P10Y</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward unitRef="shares" contextRef="c42_From1Nov2014To31Jul2015_EmployeeStockOptionMember_A2010SharePlanMember" decimals="INF">60400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward unitRef="shares" contextRef="c43_From1Nov2013To31Jul2014_EmployeeStockOptionMember_A2010SharePlanMember" decimals="INF">520400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased unitRef="usdPershares" contextRef="c44_AsOf31Jul2015_EmployeeStockOptionMember_A2010SharePlanMember" decimals="2">2.91</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased unitRef="usdPershares" contextRef="c45_AsOf31Jul2014_EmployeeStockOptionMember_A2010SharePlanMember" decimals="2">5.50</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c42_From1Nov2014To31Jul2015_EmployeeStockOptionMember_A2010SharePlanMember" decimals="INF">13334</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ProceedsFromStockOptionsExercised unitRef="usd" contextRef="c42_From1Nov2014To31Jul2015_EmployeeStockOptionMember_A2010SharePlanMember" decimals="0">34000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c43_From1Nov2013To31Jul2014_EmployeeStockOptionMember_A2010SharePlanMember" decimals="INF">13800</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ProceedsFromStockOptionsExercised unitRef="usd" contextRef="c43_From1Nov2013To31Jul2014_EmployeeStockOptionMember_A2010SharePlanMember" decimals="0">51000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant unitRef="shares" contextRef="c44_AsOf31Jul2015_EmployeeStockOptionMember_A2010SharePlanMember" decimals="INF">982955</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward unitRef="shares" contextRef="c46_From1Nov2014To31Jul2015_EmployeeStockOptionMember_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c47_AsOf5Feb2015_EmployeeStockOptionMember_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">2184126</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c47_AsOf5Feb2015_EmployeeStockOptionMember_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="3">2.575</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c48_From5Feb2015To5Feb2015_EmployeeStockOptionMember_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="0">297000</us-gaap:ShareBasedCompensation>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c49_From1Nov2014To31Jul2015_ConsultantMember_CommonStockMember" decimals="INF">11600</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c50_From1Nov2013To31Jul2014_ConsultantMember_CommonStockMember" decimals="INF">5200</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c49_From1Nov2014To31Jul2015_ConsultantMember_CommonStockMember" decimals="0">46000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c50_From1Nov2013To31Jul2014_ConsultantMember_CommonStockMember" decimals="0">41000</itus:ConsultationFeesRelatedToOptions>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c51_From1May2015To31Jul2015_ConsultantMember_CommonStockMember" decimals="INF">10000</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c52_From1May2014To31Jul2014_ConsultantMember_CommonStockMember" decimals="INF">800</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c51_From1May2015To31Jul2015_ConsultantMember_CommonStockMember" decimals="0">40000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c52_From1May2014To31Jul2014_ConsultantMember_CommonStockMember" decimals="0">6000</itus:ConsultationFeesRelatedToOptions>
  <us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;26%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;For the Nine Months&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Ended July 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;26%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;For the Three Months&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Ended July 31,&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Weighted average fair value at grant date&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.40 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$5.50 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.09 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$6.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Valuation assumptions:&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Expected life (years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.36&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.79&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5.98&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Expected volatility&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;114.8%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;115.4%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;117.8%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;115.1%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Risk-free interest rate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.66%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.82%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2.01%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.93%&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Expected dividend yield&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;0&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;</us-gaap:ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c8_From1Nov2014To31Jul2015" decimals="2">2.40</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c9_From1Nov2013To31Jul2014" decimals="2">5.50</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c6_From1May2015To31Jul2015" decimals="2">3.09</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue unitRef="usdPershares" contextRef="c7_From1May2014To31Jul2014" decimals="2">6.25</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c8_From1Nov2014To31Jul2015">P5Y131D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c9_From1Nov2013To31Jul2014">P5Y288D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c6_From1May2015To31Jul2015">P5Y9M</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1 contextRef="c7_From1May2014To31Jul2014">P5Y357D</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c8_From1Nov2014To31Jul2015" decimals="3">1.148</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c9_From1Nov2013To31Jul2014" decimals="3">1.154</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c6_From1May2015To31Jul2015" decimals="3">1.178</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate unitRef="pure" contextRef="c7_From1May2014To31Jul2014" decimals="3">1.151</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c8_From1Nov2014To31Jul2015" decimals="4">0.0166</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c9_From1Nov2013To31Jul2014" decimals="4">0.0182</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c6_From1May2015To31Jul2015" decimals="4">0.0201</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate unitRef="pure" contextRef="c7_From1May2014To31Jul2014" decimals="4">0.0193</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c8_From1Nov2014To31Jul2015" decimals="2">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c9_From1Nov2013To31Jul2014" decimals="2">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c6_From1May2015To31Jul2015" decimals="2">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate unitRef="pure" contextRef="c7_From1May2014To31Jul2014" decimals="2">0.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;&amp;nbsp;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;17%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding at October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;493,991 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$18.00 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;(82,191)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$15.57 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding and exercisable at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;411,800 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$17.22 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;156,896 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;17%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding at October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;728,560 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$5.75 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Granted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;60,400 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.91 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Exercised&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;(13,334)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.58 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;(243,355)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$6.39 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding&amp;nbsp; at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;532,271 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.32 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;986,700 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.95pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;52%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Exercisable at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;383,982 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.45 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 1.5pt; height: 15.95pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;652,231 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c53_AsOf31Oct2014_A2003SharePlanMember" decimals="INF">493991</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c53_AsOf31Oct2014_A2003SharePlanMember" decimals="2">18.00</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c54_From1Nov2014To31Jul2015_A2003SharePlanMember" decimals="INF">82191</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c54_From1Nov2014To31Jul2015_A2003SharePlanMember" decimals="2">15.57</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber unitRef="shares" contextRef="c55_AsOf31Jul2015_A2003SharePlanMember" decimals="INF">411800</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c55_AsOf31Jul2015_A2003SharePlanMember" decimals="2">17.22</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue unitRef="usd" contextRef="c55_AsOf31Jul2015_A2003SharePlanMember" decimals="0">156896</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c56_AsOf31Oct2014_A2010SharePlanMember" decimals="INF">728560</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c56_AsOf31Oct2014_A2010SharePlanMember" decimals="2">5.75</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember" decimals="INF">60400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember" decimals="2">2.91</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember" decimals="INF">13334</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember" decimals="2">2.58</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember" decimals="INF">243355</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember" decimals="2">6.39</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c58_AsOf31Jul2015_A2010SharePlanMember" decimals="INF">532271</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c58_AsOf31Jul2015_A2010SharePlanMember" decimals="2">3.32</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue unitRef="usd" contextRef="c58_AsOf31Jul2015_A2010SharePlanMember" decimals="0">986700</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber unitRef="shares" contextRef="c58_AsOf31Jul2015_A2010SharePlanMember" decimals="INF">383982</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c58_AsOf31Jul2015_A2010SharePlanMember" decimals="2">3.45</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 unitRef="usd" contextRef="c58_AsOf31Jul2015_A2010SharePlanMember" decimals="0">652231</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c54_From1Nov2014To31Jul2015_A2003SharePlanMember">&lt;div align=&quot;center&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;20%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp; $ 1.79 - $ 9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;77,880&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.91&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2.89 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$10.75 - $17.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;101,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.04&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;15.21 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp; $18.50 - $23.00&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;192,720&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1.39&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;21.57 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;38%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;40,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2.06&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;
   &lt;/div&gt;
  &lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c59_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices179To925Member" decimals="INF">77880</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c60_From1Nov2014To31Jul2015_A2003SharePlanMember_RangeOfExercisePrices179To925Member">P1Y332D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c59_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices179To925Member" decimals="2">2.89</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c61_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices1075To1750Member" decimals="INF">101200</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c62_From1Nov2014To31Jul2015_A2003SharePlanMember_RangeOfExercisePrices1075To1750Member">P1Y14D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c61_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices1075To1750Member" decimals="2">15.21</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c63_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices1850To2300Member" decimals="INF">192720</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c64_From1Nov2014To31Jul2015_A2003SharePlanMember_RangeOfExercisePrices1850To2300Member">P1Y142D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c63_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices1850To2300Member" decimals="2">21.57</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c65_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices2925Member" decimals="INF">40000</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c66_From1Nov2014To31Jul2015_A2003SharePlanMember_RangeOfExercisePrices2925Member">P2Y21D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c65_AsOf31Jul2015_A2003SharePlanMember_RangeOfExercisePrices2925Member" decimals="2">29.25</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c57_From1Nov2014To31Jul2015_A2010SharePlanMember">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.58 - $9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;532,271&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.32 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;383,982&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;6.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$3.45 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 1pt; color: black; font-family: times new roman;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c67_AsOf31Jul2015_A2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">532271</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c68_From1Nov2014To31Jul2015_A2010SharePlanMember_RangeOfExercisePrices258To925Member">P7Y3M</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c67_AsOf31Jul2015_A2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.32</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions unitRef="shares" contextRef="c67_AsOf31Jul2015_A2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">383982</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c68_From1Nov2014To31Jul2015_A2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y9M</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1 unitRef="usdPershares" contextRef="c67_AsOf31Jul2015_A2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.45</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c69_From1Nov2014To31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Intrinsic&lt;/font&gt;&lt;br /&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding at October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$5.50 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Outstanding&amp;nbsp; at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,958,650 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;47%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Options Exercisable at July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,689,179&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;16%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,748,399 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c70_AsOf31Oct2014_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c70_AsOf31Oct2014_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">5.50</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c71_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c71_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">2.69</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue unitRef="usd" contextRef="c71_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="0">3958650</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber unitRef="shares" contextRef="c71_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1689179</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c71_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">2.69</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 unitRef="usd" contextRef="c71_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="0">3748399</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c69_From1Nov2014To31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;div align=&quot;center&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
     &amp;nbsp;
   &lt;/div&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;div align=&quot;center&quot;&gt;
     &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;42%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.58-$5.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7.01&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,689,179&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7.01&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$2.69 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 1pt; color: black; font-family: times new roman;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;

     &lt;/table&gt;
    &lt;/div&gt;
   &lt;/div&gt;
  &lt;/div&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c72_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To550Member" decimals="INF">1780000</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c73_From1Nov2014To31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To550Member">P7Y3D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c72_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To550Member" decimals="2">2.69</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions unitRef="shares" contextRef="c72_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To550Member" decimals="INF">1689179</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c73_From1Nov2014To31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To550Member">P7Y3D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1 unitRef="usdPershares" contextRef="c72_AsOf31Jul2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To550Member" decimals="2">2.69</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div style=&quot;text-align: justify; font-size: 12.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;div style=&quot;float: left; width: 36.0pt;&quot;&gt;
    &lt;font style=&quot;font-family: times new roman,times; font-size: small;&quot;&gt;4.&lt;/font&gt;
   &lt;/div&gt;
   &lt;div&gt;
    &lt;font style=&quot;text-decoration: underline; font-family: times new roman,times; font-size: small;&quot;&gt;FAIR VALUE MEASUREMENTS&lt;/font&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;ASC 820 &amp;#x201c;Fair Value Measurements and Disclosures&amp;#x201d; (&amp;#x201c;ASC 820&amp;#x201d;) 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, 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;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Level 1 - Financial assets and liabilities 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;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Level 2 - Financial assets and liabilities 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;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Level 3 &amp;#x2013; Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management&amp;#x2019;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. We do not currently have any Level 3 financial assets.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of July 31, 2015: &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Money market funds &amp;#x2013; Cash&amp;nbsp; equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,571,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,571,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Certificates of deposit - Short term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,571,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5,971,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;a name=&quot;FIS_UNIDENTIFIED_TABLE_18&quot;&gt;&lt;/a&gt;
   &lt;a name=&quot;FIS_UNIDENTIFIED_TABLE_19&quot;&gt;&lt;/a&gt;
   &lt;font&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;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Money market funds &amp;#x2013; Cash&amp;nbsp; equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;155,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;155,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Certificates of deposit -Short term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,500,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,500,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;155,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,500,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,655,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of July 31, 2015:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;left&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$ &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of October 31, 2014:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;left&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 40.5pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;a name=&quot;eolPage31&quot;&gt;&lt;/a&gt;
   &lt;a name=&quot;FORM10Q_HTM_PAGE_41&quot;&gt;&lt;/a&gt;
   &lt;font&gt;The following table sets forth a summary of the changes in the fair value of the Company&amp;#x2019;s Level 3 financial liabilities that are measured at fair value on a recurring basis:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Balance October 31, 2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Initial fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,850,511 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accreted interest on patent obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;385,770 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Balance October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accreted interest on patent obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;333,779 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Balance July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;margin-top: 6.0pt; text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Our non-financial assets that may be measured at fair value on a non-recurring basis include our patents and 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 accounts receivable, accounts payable and accrued liabilities approximates their individual carrying amounts due to the short term nature of these measurements.&amp;nbsp; These assets and liabilities were not presented in the preceding table.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Money market funds &amp;#x2013; Cash&amp;nbsp; equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,571,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,571,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Certificates of deposit - Short term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,571,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;5,971,191 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Money market funds &amp;#x2013; Cash&amp;nbsp; equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;155,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;155,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Certificates of deposit -Short term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,500,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,500,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt 10pt;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;155,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,500,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,655,964 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c74_AsOf31Jul2015_CashEquivalentsMember_FairValueInputsLevel1Member" decimals="0">3571191</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c77_AsOf31Jul2015_CashEquivalentsMember" decimals="0">3571191</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c79_AsOf31Jul2015_CertificatesOfDepositMember_FairValueInputsLevel2Member" decimals="0">2400000</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c81_AsOf31Jul2015_CertificatesOfDepositMember" decimals="0">2400000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c82_AsOf31Jul2015_FairValueInputsLevel1Member" decimals="0">3571191</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c83_AsOf31Jul2015_FairValueInputsLevel2Member" decimals="0">2400000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c84_AsOf31Jul2015_FairValueInputsLevel3Member" xs:nil="true"/>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">5971191</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c85_AsOf31Jul2014_CashEquivalentsMember_FairValueInputsLevel1Member" decimals="0">155964</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c88_AsOf31Jul2014_CashEquivalentsMember" decimals="0">155964</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c90_AsOf31Jul2014_CertificatesOfDepositMember_FairValueInputsLevel2Member" decimals="0">2500000</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c92_AsOf31Jul2014_CertificatesOfDepositMember" decimals="0">2500000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c93_AsOf31Jul2014_FairValueInputsLevel1Member" decimals="0">155964</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c94_AsOf31Jul2014_FairValueInputsLevel2Member" decimals="0">2500000</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c20_AsOf31Jul2014" decimals="0">2655964</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div align=&quot;left&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$ &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;div align=&quot;left&quot;&gt;
   &lt;div align=&quot;center&quot;&gt;
    &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;12%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;46%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;bottom&quot; width=&quot;10%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

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   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Balance October 31, 2013&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Initial fair value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;2,850,511 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accreted interest on patent obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;385,770 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Balance October 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,236,281 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accreted interest on patent obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;333,779 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt;&quot; valign=&quot;top&quot; width=&quot;80%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Balance July 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;top&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;&quot; valign=&quot;top&quot; width=&quot;18%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;3,570,060&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

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  <us-gaap:TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfLiabilitiesIncurred unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">2850511</us-gaap:TransfersOfFinancialAssetsAccountedForAsSaleInitialFairValueOfLiabilitiesIncurred>
  <itus:AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense unitRef="usd" contextRef="c104_From1Nov2013To31Oct2014" decimals="0">385770</itus:AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense>
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  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">3570060</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
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    &lt;font&gt;5.&lt;/font&gt;
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    &lt;font style=&quot;text-decoration: underline;&quot;&gt;INVESTMENTS&lt;/font&gt;
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  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;At July 31, 2015 and October 31, 2014, we had certificates of deposit of $2,400,000 and $2,500,000, respectively, which were classified as short-term investments and reported at fair value. &lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;</invest:InvestmentTextBlock>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">2400000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">2500000</us-gaap:CertificatesOfDepositAtCarryingValue>
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    &lt;font&gt;6.&lt;/font&gt;
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   &lt;div&gt;
    &lt;font style=&quot;text-decoration: underline;&quot;&gt;ACCOUNTS PAYABLE AND ACCRUED EXPENSES&lt;/font&gt;
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   &lt;font&gt;Accounts payable and accrued expense consist of the following as of:&lt;/font&gt;
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   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;13%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;July 31,&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;13%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;October 31,&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accounts payable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;424,688 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;540,179 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Payroll and related expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;372,753 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accrued litigation expense, consulting and&amp;nbsp; other professional fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;320,493 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accrued other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;4,438 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;16,001 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; display: none; line-height: normal; text-align: left;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;436,126 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,249,426 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;13%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;July 31,&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;13%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;October 31,&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accounts payable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;424,688 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;540,179 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Payroll and related expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;372,753 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accrued litigation expense, consulting and&amp;nbsp; other professional fees&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;7,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;320,493 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Accrued other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;4,438 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;16,001 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;72%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; display: none; line-height: normal; text-align: left;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;436,126 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;2%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;11%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;1,249,426 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">424688</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">540179</us-gaap:AccountsPayableCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Jul2015" xs:nil="true"/>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">372753</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:AccruedProfessionalFeesCurrent unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">7000</us-gaap:AccruedProfessionalFeesCurrent>
  <us-gaap:AccruedProfessionalFeesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">320493</us-gaap:AccruedProfessionalFeesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">4438</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2014" decimals="0">16001</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:EarningsPerShareTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div style=&quot;margin-bottom: 12.0pt; text-align: justify; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;div style=&quot;float: left; width: 36.0pt;&quot;&gt;
    &lt;font&gt;7. &lt;/font&gt;
   &lt;/div&gt;
   &lt;div&gt;
    &lt;font style=&quot;text-decoration: underline;&quot;&gt; NET LOSS PER SHARE OF COMMON STOCK &lt;/font&gt;
   &lt;/div&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;In accordance with ASC 260, &amp;#x201c;Earnings Per Share&amp;#x201d;, basic net income (loss) per common share (&amp;#x201c;Basic EPS&amp;#x201d;) is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted net income (loss) per common share (&amp;#x201c;Diluted EPS&amp;#x201d;) is computed by dividing net income (loss) by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. The treasury stock method reduces the dilutive effect of potentially dilutive securities as it assumes that any cash proceeds (from the issuance of potentially dilutive securities) are used to buy back shares at the average share price during the period.&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Dilutive EPS for the three months ended July 31, 2014 excluded stock options to purchase 357,920 shares and warrants to purchase 715,379 shares because their effect would be antidilutive. The following is a reconciliation between basic weighted average common shares outstanding and dilutive weighted average common shares outstanding for the three months ended July 31, 2014:&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;For the Three&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Months Ended&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;July 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Basic weighted average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;8,930,070&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Effect of convertible debentures&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 739,958&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Effect of warrants&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 71,822&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Effect of stock options&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;892,050&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 15.25pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;Dilutive weighted average common shares outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: black; font-family: times new roman;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; 10,633,900&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;
  &lt;/div&gt;&lt;br/&gt;&lt;div style=&quot;text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;&quot;&gt;
   &lt;font&gt;Diluted EPS for the nine and three months ended July 31, 2015 and the nine months ended July 31, 2014&amp;nbsp;are the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of Diluted EPS for the nine and three months ended July 31, 2015 were stock options to purchase 2,724,072 shares, warrants to purchase 1,028,932 shares and preferred stock convertible into 739,958 shares and for the nine months ended July 31, 2014 were stock options to purchase 2,975,951 shares, warrants to purchase 1,036,932 shares and debentures convertible into 739,958 shares.&amp;nbsp;&lt;/font&gt;
  &lt;/div&gt;&lt;br/&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c105_From1May2014To31Jul2014_EmployeeStockOptionMember" decimals="INF">357920</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c106_From1May2014To31Jul2014_WarrantMember" decimals="INF">715379</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c107_From1Nov2014To31Jul2015_EmployeeStockOptionMember" decimals="INF">2724072</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c108_From1May2015To31Jul2015_EmployeeStockOptionMember" decimals="INF">2724072</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c109_From1Nov2014To31Jul2015_WarrantMember" decimals="INF">1028932</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c110_From1May2015To31Jul2015_WarrantMember" decimals="INF">1028932</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c111_From1Nov2014To31Jul2015_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c112_From1May2015To31Jul2015_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c113_From1Nov2013To31Jul2014_EmployeeStockOptionMember" decimals="INF">2975951</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c114_From1Nov2013To31Jul2014_WarrantMember" decimals="INF">1036932</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c115_From1Nov2013To31Jul2014_ConvertibleDebtSecuritiesMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div align=&quot;center&quot;&gt;
   &lt;table style=&quot;width: 550pt; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;23%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; color: #000000; font-family: times new roman;&quot;&gt;For the Three&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;Months Ended&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: center; line-height: normal;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 10pt; font-family: times new roman;&quot;&gt;July 31, 2014&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 1.5pt; height: 14.5pt;&quot; valign=&quot;bottom&quot; width=&quot;77%&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 14.5pt;&quot;&gt;
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  <us-gaap:IncrementalCommonSharesAttributableToConversionOfPreferredStock unitRef="shares" contextRef="c7_From1May2014To31Jul2014" decimals="INF">739958</us-gaap:IncrementalCommonSharesAttributableToConversionOfPreferredStock>
  <itus:IncrementalCommonSharesAttributableToWarrants unitRef="shares" contextRef="c7_From1May2014To31Jul2014" decimals="INF">71822</itus:IncrementalCommonSharesAttributableToWarrants>
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  <us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="c8_From1Nov2014To31Jul2015">&lt;div style=&quot;text-align: justify; font-size: 12.0pt; font-family: Times New Roman;&quot;&gt;
   &lt;div style=&quot;float: left; width: 36.0pt;&quot;&gt;
    &lt;font style=&quot;font-family: times new roman,times; font-size: small;&quot;&gt;8.&lt;/font&gt;
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    &lt;font style=&quot;text-decoration: underline; font-family: times new roman,times; font-size: small;&quot;&gt;EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS&lt;/font&gt;
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   &lt;font&gt;In May 2014, the Financial Accounting Standards Board (&quot;FASB&quot;) issued Accounting Standards Update 2014-09 (&amp;#x201c;ASU 2014-09&amp;#x201d;), Revenue from Contracts with Customers. 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;The amendments for this standard update are 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;/font&gt;
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   &lt;font&gt;In June 2014, the FASB issued Accounting Standards Update 2014-12 (&amp;#x201c;ASU 2014-12&amp;#x201d;), Compensation &amp;#x2013; Stock Compensation. 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;/font&gt;
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   &lt;font&gt;In August 2014, the FASB issued Accounting Standards Update 2014-15 (&amp;#x201c;ASU 2014-15&amp;#x201d;). This amendment requires management to assess an entity&amp;#x2019;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;/font&gt;
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  <itus:ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance contextRef="c116_From1Jul2015To31Jul2015">P1Y</itus:ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance>
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   &lt;font&gt;On December 29, 2014, we reached a Settlement Agreement resulting in our receipt of an aggregate of $9,000,000 in settlement of a dispute (Note 2). As a result we realized taxable income during the first quarter of fiscal year 2015. We expect any taxable income for the full fiscal year will be completely offset by our net operating loss carryforwards, resulting in no tax due in any jurisdiction. Accordingly, we have not recorded a tax provision for the interim periods anticipating a partial release of the valuation reserve recorded against our deferred tax assets to the extent of the net operating loss carryforwards actually used for the full fiscal year.&lt;/font&gt;
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   &lt;font&gt;As of July 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 $3,570,000, and which amount will be reduced by royalties paid during the period. The payment due in November 2017 is payable at the option of the Company in cash or common stock.&lt;/font&gt;
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   &lt;font&gt;On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 2). &lt;/font&gt;
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   &lt;font&gt;Other than lawsuits 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;&lt;/font&gt;
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  <itus:PatentAcquisitionObligationsDiscountedPresentValue unitRef="usd" contextRef="c0_AsOf31Jul2015" decimals="0">3570000</itus:PatentAcquisitionObligationsDiscountedPresentValue>
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  <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="NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable"/>
  <xs:element name="NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems"/>
  <xs:element name="ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance"/>
  <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="A2003SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_A2003SharePlanMember"/>
  <xs:element name="A2010SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_A2010SharePlanMember"/>
  <xs:element name="ConsultantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConsultantMember"/>
  <xs:element name="OptionsGrantedWith10YearsTermMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_OptionsGrantedWith10YearsTermMember"/>
  <xs:element name="OptionsGrantedWith1YearVestingPeriodMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_OptionsGrantedWith1YearVestingPeriodMember"/>
  <xs:element name="OptionsGrantedWith36MonthsOfVestingPeriodMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_OptionsGrantedWith36MonthsOfVestingPeriodMember"/>
  <xs:element name="OptionsGrantedWith5YearsTermMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_OptionsGrantedWith5YearsTermMember"/>
  <xs:element name="PatentAcquisitionObligationMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationMember"/>
  <xs:element name="RangeOfExercisePrices1075To1750Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1075To1750Member"/>
  <xs:element name="RangeOfExercisePrices179To925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices179To925Member"/>
  <xs:element name="RangeOfExercisePrices1850To2300Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1850To2300Member"/>
  <xs:element name="RangeOfExercisePrices258To550Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices258To550Member"/>
  <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="SettlementAgreementAndPatentAgreementMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_SettlementAgreementAndPatentAgreementMember"/>
  <xs:element name="StockOptionsGrantedToConsultantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockOptionsGrantedToConsultantMember"/>
  <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="StockRepurchasedOtherThanOpenMarketTransactionMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockRepurchasedOtherThanOpenMarketTransactionMember"/>
  <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>8
<FILENAME>itus-20150731_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Aug 18 19:40:35 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="itus-20150731.xsd#itus_r_ConsolidatedIncomeStatement" roleURI="http://www.ITUScorp.com/role/ConsolidatedIncomeStatement"/>
  <roleRef xlink:type="simple" xlink:href="itus-20150731.xsd#itus_r_ConsolidatedCashFlow" roleURI="http://www.ITUScorp.com/role/ConsolidatedCashFlow"/>
  <roleRef xlink:type="simple" xlink:href="itus-20150731.xsd#itus_r_AccountspayableandaccruedexpenseTable" roleURI="http://www.ITUScorp.com/role/AccountspayableandaccruedexpenseTable"/>
  <roleRef xlink:type="simple" xlink:href="itus-20150731.xsd#itus_r_ReconciliationTable" roleURI="http://www.ITUScorp.com/role/ReconciliationTable"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.ITUScorp.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"/>
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    <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-20150731.xsd#itus_FiniteLivedPatentsNet"/>
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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"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:href="itus-20150731.xsd#itus_RoyaltiesAndContingentLegalFeesPayable"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="itus_RoyaltiesAndContingentLegalFeesPayable" order="2" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_LiabilitiesCurrent" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligation" xlink:href="itus-20150731.xsd#itus_PatentAcquisitionObligation"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Liabilities" xlink:to="itus_PatentAcquisitionObligation" order="2" weight="1"/>
    <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"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_PreferredStockValue" order="1" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_CommonStockValue" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdditionalPaidInCapital" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapital"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_AdditionalPaidInCapital" order="3" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit" order="4" weight="1"/>
    <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"/>
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    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_StockholdersEquity" order="2" weight="1"/>
  </calculationLink>
  <calculationLink xlink:type="extended" xlink:role="http://www.ITUScorp.com/role/ConsolidatedIncomeStatement">
    <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"/>
    <loc xlink:type="locator" xlink:label="itus_RevenueFromPatentAssertionActivities" xlink:href="itus-20150731.xsd#itus_RevenueFromPatentAssertionActivities"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_SalesRevenueNet" xlink:to="itus_RevenueFromPatentAssertionActivities" order="1" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_LicenseAndServicesRevenue" order="2" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_RevenueFromRelatedParties" order="3" weight="1"/>
    <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"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_RoyaltyExpense" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="itus_LitigationAndLicensingExpenses" xlink:href="itus-20150731.xsd#itus_LitigationAndLicensingExpenses"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="itus_LitigationAndLicensingExpenses" order="2" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_AmortizationOfIntangibleAssets" order="3" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense" order="4" weight="1"/>
    <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"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_SalesRevenueNet" order="1" weight="1"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_CostsAndExpenses" order="2" weight="-1"/>
    <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"/>
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    <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"/>
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>9
<FILENAME>itus-20150731_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
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<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Aug 18 19:40:35 UTC 2015 -->
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  <definitionLink xlink:type="extended" xlink:role="http://www.ITUScorp.com/role/DocumentAndEntityInformation">
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    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer"/>
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</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>itus-20150731_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT
<TEXT>
<XBRL>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Aug 18 19:40:35 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="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel"/>
  <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"/>
  <labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl"/>
    <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"/>
    <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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0" xml:lang="en-US">Cash and cash equivalents at beginning of period</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl1" xml:lang="en-US">Cash and cash equivalents at end of period</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_lbl1"/>
    <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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShortTermInvestments_lbl" xml:lang="en-US">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_ShortTermInvestments" xlink:to="us-gaap_ShortTermInvestments_lbl"/>
    <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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_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_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl"/>
    <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"/>
    <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"/>
    <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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">Total current assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FiniteLivedPatentsNet" xlink:href="itus-20150731.xsd#itus_FiniteLivedPatentsNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FiniteLivedPatentsNet_lbl" xml:lang="en-US">Patents, net of accumulated amortization of $558,425 and $314,453, respectively</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl" xml:lang="en-US">Patents, accumulated amortization (in Dollars)</label>
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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 $9,786 and $48,842, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <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-20150731.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-20150731.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</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 (Note 10)</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_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_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_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_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"/>
    <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"/>
    <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_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"/>
    <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; 8,720,878 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"/>
    <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"/>
    <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_AdditionalPaidInCapital" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_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_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_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-20150731.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/label" xlink:label="us-gaap_LicenseAndServicesRevenue_lbl" xml:lang="en-US">Amortization of display technology development and license fees received from AU Optronics Corp. 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"/>
    <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/totalLabel" 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-20150731.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 expense</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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AmortizationOfIntangibleAssets_lbl0" xml:lang="en-US">Amortization of Intangible Assets</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_lbl0"/>
    <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 expenses of $780,591, $469,481, $2,338,299 and $2,346,587 respectively)</label>
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    <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"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl0"/>
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    <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>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">Income (loss) from operations</label>
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    <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</label>
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    <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"/>
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    <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"/>
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    <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"/>
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    <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"/>
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    <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"/>
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    <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"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax_lbl" xml:lang="en-US">Unrealized income (loss) on investment in Videocon Industries Limited global depository receipts</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl"/>
    <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_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Basic (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl0" xml:lang="en-US">Basic weighted average common shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Diluted (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl0"/>
    <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"/>
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    <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"/>
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    <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"/>
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    <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"/>
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    <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"/>
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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_lbl"/>
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    <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"/>
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    <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"/>
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    <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"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants_lbl" xml:lang="en-US">Repurchase of 92,232 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</label>
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    <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/terseLabel" 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/label" 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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_TreasuryStockSharesAcquired_lbl1" xml:lang="en-US">Treasury Stock, Shares, Acquired (in Shares)</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_lbl1"/>
    <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/terseLabel" 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/label" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl0" xml:lang="en-US">Number Of Warrants Cancelled</label>
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    <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_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/terseLabel" 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_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="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="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="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:href="itus-20150731.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">Accreted 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="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 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"/>
    <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/negatedLabel" 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="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:href="itus-20150731.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 32,000 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_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:to="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareRepurchaseProgramAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareRepurchaseProgramAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramAxis_lbl" xml:lang="en-US">Share Repurchase Program [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramAxis" xlink:to="us-gaap_ShareRepurchaseProgramAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockRepurchasedOtherThanOpenMarketTransactionMember" xlink:href="itus-20150731.xsd#itus_StockRepurchasedOtherThanOpenMarketTransactionMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_StockRepurchasedOtherThanOpenMarketTransactionMember_lbl" xml:lang="en-US">Stock Repurchased other than Open Market Transaction [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockRepurchasedOtherThanOpenMarketTransactionMember" xlink:to="itus_StockRepurchasedOtherThanOpenMarketTransactionMember_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/negatedTerseLabel" 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/negatedTerseLabel" 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/negatedTerseLabel" 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-20150731.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"/>
    <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 and sales 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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl0" xml:lang="en-US">Proceeds from Sale of Short-term Investments</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_lbl0"/>
    <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">Payments for purchases 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_PaymentsForProceedsFromOtherInvestingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PaymentsForProceedsFromOtherInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_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_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl"/>
    <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"/>
    <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">Proceeds from sale of common stock, net</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"/>
    <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="us-gaap_RepaymentsOfConvertibleDebt" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RepaymentsOfConvertibleDebt"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_RepaymentsOfConvertibleDebt_lbl" xml:lang="en-US">Payments to redeem convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfConvertibleDebt" xlink:to="us-gaap_RepaymentsOfConvertibleDebt_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:href="itus-20150731.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_NetCashProvidedByUsedInFinancingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash (used in) provided by financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net increase in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1_lbl" xml:lang="en-US">Non-cash patent acquisition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1" xlink:to="us-gaap_NoncashOrPartNoncashAcquisitionIntangibleAssetsAcquired1_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_CommonStockIssuedToAcquirePatentLicense" xlink:href="itus-20150731.xsd#itus_CommonStockIssuedToAcquirePatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_CommonStockIssuedToAcquirePatentLicense_lbl" xml:lang="en-US">Common stock 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_lbl"/>
    <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 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"/>
    <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 date of 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 warrants issued with convertible debentures</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_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="us-gaap_DisclosureTextBlockSupplementAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureTextBlockSupplementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureTextBlockSupplementAbstract_lbl" xml:lang="en-US">Disclosure Text Block Supplement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureTextBlockSupplementAbstract" xlink:to="us-gaap_DisclosureTextBlockSupplementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_FairValueEstimateAssumptionsAbstract" xlink:href="itus-20150731.xsd#itus_FairValueEstimateAssumptionsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FairValueEstimateAssumptionsAbstract_lbl" xml:lang="en-US">Fair Value Estimate Assumptions [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FairValueEstimateAssumptionsAbstract" xlink:to="itus_FairValueEstimateAssumptionsAbstract_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="itus_InformationRegardingThe2003And2010SharePlanAbstract" xlink:href="itus-20150731.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_A2003SharePlanMember" xlink:href="itus-20150731.xsd#itus_A2003SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_A2003SharePlanMember_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_A2003SharePlanMember" xlink:to="itus_A2003SharePlanMember_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 at October 31, 2014</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 (in 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_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 at October 31, 2014</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/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1" xml:lang="en-US">Options Outstanding, Weighted Average Exercise Price</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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl2" 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_lbl2"/>
    <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/label" 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-20150731.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 July 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-20150731.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 July 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-20150731.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 July 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_A2010SharePlanMember" xlink:href="itus-20150731.xsd#itus_A2010SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_A2010SharePlanMember_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_A2010SharePlanMember" xlink:to="itus_A2010SharePlanMember_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">Granted</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"/>
    <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">Granted</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"/>
    <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/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Exercised</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_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 July 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"/>
    <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 July 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"/>
    <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 July 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"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract" xlink:href="itus-20150731.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-20150731.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/periodEndLabel" 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"/>
    <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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Options Outstanding, Weighted Average Remaining Contractual Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" xml:lang="en-US">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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl0" xml:lang="en-US">Options Outstanding, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices1075To1750Member" xlink:href="itus-20150731.xsd#itus_RangeOfExercisePrices1075To1750Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices1075To1750Member_lbl" xml:lang="en-US">Range Of Exercise Prices $10.75 To $17.50 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1075To1750Member" xlink:to="itus_RangeOfExercisePrices1075To1750Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices1850To2300Member" xlink:href="itus-20150731.xsd#itus_RangeOfExercisePrices1850To2300Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices1850To2300Member_lbl" xml:lang="en-US">Range Of Exercise Prices $18.50 To $23.00 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1850To2300Member" xlink:to="itus_RangeOfExercisePrices1850To2300Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices2925Member" xlink:href="itus-20150731.xsd#itus_RangeOfExercisePrices2925Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices2925Member_lbl" xml:lang="en-US">Range Of Exercise Prices $29.25 [Member]</label>
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    <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_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">Earnings Per Share [Abstract]</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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_lbl0" xml:lang="en-US">Net (loss) income per common 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ReconciliationAbstract" xlink:href="itus-20150731.xsd#itus_ReconciliationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ReconciliationAbstract_lbl" xml:lang="en-US">Reconciliation [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ReconciliationAbstract" xlink:to="itus_ReconciliationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock_lbl" xml:lang="en-US">Effect of convertible debentures</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock" xlink:to="us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_IncrementalCommonSharesAttributableToWarrants" xlink:href="itus-20150731.xsd#itus_IncrementalCommonSharesAttributableToWarrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_IncrementalCommonSharesAttributableToWarrants_lbl" xml:lang="en-US">Effect of warrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncrementalCommonSharesAttributableToWarrants" xlink:to="itus_IncrementalCommonSharesAttributableToWarrants_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl" xml:lang="en-US">Effect of stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements" xlink:to="us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" xml:lang="en-US">New Accounting Pronouncements and Changes in Accounting Principles [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:to="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US">Income Tax Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_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&apos; 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_OtherComprehensiveIncomeLossTaxAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherComprehensiveIncomeLossTaxAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherComprehensiveIncomeLossTaxAbstract_lbl" xml:lang="en-US">Other comprehensive (loss) income:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherComprehensiveIncomeLossTaxAbstract" xlink:to="us-gaap_OtherComprehensiveIncomeLossTaxAbstract_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="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_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="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_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="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_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="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_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="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NoncashInvestingAndFinancingItemsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NoncashInvestingAndFinancingItemsAbstract_lbl" xml:lang="en-US">Supplemental disclosure of investing and financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NoncashInvestingAndFinancingItemsAbstract" xlink:to="us-gaap_NoncashInvestingAndFinancingItemsAbstract_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_LegalMattersAndContingenciesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LegalMattersAndContingenciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LegalMattersAndContingenciesTextBlock_lbl" xml:lang="en-US">Legal Matters and Contingencies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LegalMattersAndContingenciesTextBlock" xlink:to="us-gaap_LegalMattersAndContingenciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract_lbl" xml:lang="en-US">Valuation assumptions:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsAndMethodologyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueDisclosuresTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock"/>
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    <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"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertiblePreferredStockMember" xlink:to="us-gaap_ConvertiblePreferredStockMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConvertibleDebtSecuritiesMember" xlink:to="us-gaap_ConvertibleDebtSecuritiesMember_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromOperatingActivities" xlink:to="us-gaap_ProceedsFromOperatingActivities_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl" xml:lang="en-US">Payments for Repurchase of Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfCommonStock" xlink:to="us-gaap_PaymentsForRepurchaseOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_TreasuryStockSharesAcquiredInOpenMarketTransactions" xlink:href="itus-20150731.xsd#itus_TreasuryStockSharesAcquiredInOpenMarketTransactions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_TreasuryStockSharesAcquiredInOpenMarketTransactions_lbl" xml:lang="en-US">Treasury Stock Shares Acquired in Open Market Transactions</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems_lbl" xml:lang="en-US">FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities measured at fair value [Line Items]</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xml:lang="en-US">Related Party Transaction [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AUOSETTLEMENTDetailsTable_lbl" xml:lang="en-US">AUO SETTLEMENT (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AUOSETTLEMENTDetailsTable" xlink:to="itus_AUOSETTLEMENTDetailsTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_AUOSETTLEMENTDetailsLineItems_lbl" xml:lang="en-US">AUO SETTLEMENT (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AUOSETTLEMENTDetailsLineItems" xlink:to="itus_AUOSETTLEMENTDetailsLineItems_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RangeMember_lbl" xml:lang="en-US">Range [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RangeMember" xlink:to="us-gaap_RangeMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AwardDateDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AwardDateDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AwardDateDomain_lbl" xml:lang="en-US">Award Date [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AwardDateDomain" xlink:to="us-gaap_AwardDateDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl" xml:lang="en-US">Equity Award [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardAwardTypeAndPlanNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RelatedPartyDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US">Related Party [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_STOCKBASEDCOMPENSATIONDetailsTable" xlink:href="itus-20150731.xsd#itus_STOCKBASEDCOMPENSATIONDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_STOCKBASEDCOMPENSATIONDetailsTable_lbl" xml:lang="en-US">STOCK BASED COMPENSATION (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_STOCKBASEDCOMPENSATIONDetailsTable" xlink:to="itus_STOCKBASEDCOMPENSATIONDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_STOCKBASEDCOMPENSATIONDetailsLineItems" xlink:href="itus-20150731.xsd#itus_STOCKBASEDCOMPENSATIONDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_STOCKBASEDCOMPENSATIONDetailsLineItems_lbl" xml:lang="en-US">STOCK BASED COMPENSATION (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_STOCKBASEDCOMPENSATIONDetailsLineItems" xlink:to="itus_STOCKBASEDCOMPENSATIONDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AntidilutiveSecuritiesNameDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AntidilutiveSecuritiesNameDomain_lbl" xml:lang="en-US">Antidilutive Securities, Name [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AntidilutiveSecuritiesNameDomain" xlink:to="us-gaap_AntidilutiveSecuritiesNameDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable" xlink:href="itus-20150731.xsd#itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable_lbl" xml:lang="en-US">NET LOSS PER SHARE OF COMMON STOCK (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable" xlink:to="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems_lbl" xml:lang="en-US">NET LOSS PER SHARE OF COMMON STOCK (Details) [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems" xlink:to="itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems_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>
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    <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>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_AmortizationOfCompensationCosts_lbl0" xml:lang="en-US">Amount of noncash expense included in compensation expense related to issuance of stock options.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance_lbl0" xml:lang="en-US">The approved period of deferral for the effective date of the new guidance.</label>
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    <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>
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    <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>
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    <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 of the costs pertaining to the exclusive legal rights granted to the owner of the patent to exploit an invention or a process for a period of time specified by law. Such costs may have been expended to directly apply and receive patent rights, or to acquire such rights.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_IncrementalCommonSharesAttributableToWarrants_lbl0" xml:lang="en-US">Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of warrants.</label>
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    <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>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PatentAcquisitionObligation_lbl0" xml:lang="en-US">Patent acquisition obligation.</label>
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    <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>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PaymentsForPurchaseOfCommonStockInOpenMarketTransactions_lbl0" xml:lang="en-US">The cash outflow to acquire common stock in open market transactions during the period.</label>
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    <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>
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    <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>
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    <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>
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    <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>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_TreasuryStockSharesAcquiredInOpenMarketTransactions_lbl0" xml:lang="en-US">Number of shares that have been purchased in open market transactions during the period and are being held in treasury.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_A2003SharePlanMember_lbl0" xml:lang="en-US">A2003 Share Plan [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_A2003SharePlanMember_lbl1" xml:lang="en-US">2003 Share Plan Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_A2010SharePlanMember_lbl0" xml:lang="en-US">A2010 Share Plan [Member]</label>
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    <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="itus_OptionsGrantedWith10YearsTermMember_lbl0" xml:lang="en-US">Options Granted With 10 Years Term [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_OptionsGrantedWith1YearVestingPeriodMember_lbl0" xml:lang="en-US">Options Granted With 1 Year Vesting Period [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_OptionsGrantedWith1YearVestingPeriodMember" xlink:to="itus_OptionsGrantedWith1YearVestingPeriodMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_OptionsGrantedWith36MonthsOfVestingPeriodMember_lbl0" xml:lang="en-US">Options Granted With 36 Months Of Vesting Period [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_OptionsGrantedWith5YearsTermMember_lbl0" xml:lang="en-US">Options Granted With 5 Years Term [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_OptionsGrantedWith5YearsTermMember" xlink:to="itus_OptionsGrantedWith5YearsTermMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_PatentAcquisitionObligationMember_lbl0" xml:lang="en-US">Patent Acquisition Obligation [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligationMember" xlink:to="itus_PatentAcquisitionObligationMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices1075To1750Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 1075 To 1750 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1075To1750Member" xlink:to="itus_RangeOfExercisePrices1075To1750Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices179To925Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 179 To 925 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices179To925Member" xlink:to="itus_RangeOfExercisePrices179To925Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices1850To2300Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 1850 To 2300 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1850To2300Member" xlink:to="itus_RangeOfExercisePrices1850To2300Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices258To550Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 258 To 550 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices258To550Member" xlink:to="itus_RangeOfExercisePrices258To550Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices258To925Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 258 To 925 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices258To925Member" xlink:to="itus_RangeOfExercisePrices258To925Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices2925Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 2925 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices2925Member" xlink:to="itus_RangeOfExercisePrices2925Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SettlementAgreementAndPatentAgreementMember_lbl0" xml:lang="en-US">Settlement Agreement And Patent Agreement [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SettlementAgreementAndPatentAgreementMember" xlink:to="itus_SettlementAgreementAndPatentAgreementMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockOptionsGrantedToConsultantMember_lbl0" xml:lang="en-US">Stock Options Granted To Consultant [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsGrantedToConsultantMember" xlink:to="itus_StockOptionsGrantedToConsultantMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockOptionsGrantedToEmployeesAndDirectorsMember_lbl0" xml:lang="en-US">Stock Options Granted To Employees And Directors [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsGrantedToEmployeesAndDirectorsMember" xlink:to="itus_StockOptionsGrantedToEmployeesAndDirectorsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_lbl0" xml:lang="en-US">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" xlink:to="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockRepurchasedOtherThanOpenMarketTransactionMember_lbl0" xml:lang="en-US">Stock Repurchased Other Than Open Market Transaction [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockRepurchasedOtherThanOpenMarketTransactionMember" xlink:to="itus_StockRepurchasedOtherThanOpenMarketTransactionMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_DocumentAndEntityInformationAbstract" xlink:href="itus-20150731.xsd#itus_DocumentAndEntityInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document and Entity Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_DocumentAndEntityInformationAbstract" xlink:to="itus_DocumentAndEntityInformationAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl1" xml:lang="en-US">PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:to="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl1" xml:lang="en-US">ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl1" xml:lang="en-US">ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl1" xml:lang="en-US">ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl1" xml:lang="en-US">GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:to="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl1" xml:lang="en-US">IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, 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_lbl0"/>
    <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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl0" xml:lang="en-US">Increase (Decrease) in Prepaid Expense and Other 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityPublicFloat" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</label>
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    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_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</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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesIssued_lbl1" xml:lang="en-US">Shares, Issued</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_lbl1"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl0" xml:lang="en-US">Operating Income (Loss)</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RepaymentsOfConvertibleDebt_lbl0" xml:lang="en-US">Repayments of Convertible Debt</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RepaymentsOfConvertibleDebt" xlink:to="us-gaap_RepaymentsOfConvertibleDebt_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</label>
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    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</label>
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    <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="dei_DocumentType" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType"/>
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    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNet_lbl0" xml:lang="en-US">Revenue, Net</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockOptionPlanExpense_lbl0" xml:lang="en-US">Stock or Unit Option Plan Expense</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl0" xml:lang="en-US">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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl0" xml:lang="en-US">Stock Issued During Period, Value, Acquisitions</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CostsAndExpenses_lbl0" xml:lang="en-US">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_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl0"/>
    <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>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncomeExpense" xlink:to="us-gaap_OtherNoncashIncomeExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl0" xml:lang="en-US">Payments for (Proceeds from) Other Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForProceedsFromOtherInvestingActivities" xlink:to="us-gaap_PaymentsForProceedsFromOtherInvestingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentFlag" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl0"/>
    <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</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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Number of Exercisable Options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl0" xml:lang="en-US">Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Extraordinary Items, Noncontrolling Interest</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl0" xml:lang="en-US">Increase (Decrease) in 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_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>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrent_lbl0" xml:lang="en-US">Assets, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl0" xml:lang="en-US">Liabilities, Current</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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockRepurchasedAndRetiredDuringPeriodShares_lbl0" xml:lang="en-US">Stock Repurchased and Retired During Period, 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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl0" xml:lang="en-US">Issuance of Stock and Warrants for Services or Claims</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_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_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</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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl2" xml:lang="en-US">Stockholders&apos; Equity Attributable to Parent</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_lbl0" xml:lang="en-US">Increase (Decrease) in Accounts Payable and Accrued Liabilities</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_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
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    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax_lbl0" xml:lang="en-US">Comprehensive Income (Loss), Net of Tax, Attributable to Parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_ComprehensiveIncomeNetOfTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl1" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl0" xml:lang="en-US">Interest Expense</label>
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    <loc xlink:type="locator" xlink:label="dei_AmendmentDescription" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentDescription"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementTable" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementScenarioAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementScenarioAxis"/>
    <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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  </labelLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>itus-20150731_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Tue Aug 18 19:40:35 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-20150731.xsd#itus_r_ConsolidatedBalanceSheet" roleURI="http://www.ITUScorp.com/role/ConsolidatedBalanceSheet"/>
  <roleRef xlink:type="simple" xlink:href="itus-20150731.xsd#itus_r_ConsolidatedBalanceSheet_Parentheticals" roleURI="http://www.ITUScorp.com/role/ConsolidatedBalanceSheet_Parentheticals"/>
  <roleRef xlink:type="simple" xlink:href="itus-20150731.xsd#itus_r_ConsolidatedIncomeStatement" roleURI="http://www.ITUScorp.com/role/ConsolidatedIncomeStatement"/>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735308092944">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NET LOSS PER SHARE OF COMMON STOCK (Details) - Reconciliation - shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 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_ReconciliationAbstract', window );"><strong>Reconciliation [Abstract]</strong></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>
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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_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic weighted average common shares outstanding</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="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock', window );">Effect of convertible debentures</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="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="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Dilutive weighted average common shares outstanding</a></td>
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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>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of 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>
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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>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of convertible preferred stock using the if-converted 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 40<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1930-109256<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of share based payment arrangements using the treasury stock 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</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_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</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>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735131116176">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="nump">$ 5,971,191<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_FairValueByAssetClassAxis=us-gaap_CashEquivalentsMember', window );">Cash Equivalents [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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="nump">3,571,191<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_FairValueByAssetClassAxis=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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="nump">3,571,191<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] | Cash Equivalents [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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="nump">$ 3,571,191<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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Cash Equivalents [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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member', window );">Fair Value, Inputs, Level 3 [Member] | Cash Equivalents [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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></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_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="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [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_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the aggregate of the assets reported on the balance sheet at period end measured at fair value on a recurring basis by the entity. This element is intended to be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements.</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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735136598208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>AUO SETTLEMENT (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 29, 2014 </div>
<div>USD ($)</div>
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</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=itus_SettlementAgreementAndPatentAgreementMember', window );">Settlement Agreement And Patent Agreement [Member]</a></td>
<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>COMMITMENT AND CONTINGENCES (Details)<br></strong></div></th>
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<div>Jul. 31, 2015 </div>
<div>USD ($)</div>
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<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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123502176">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - Accounts payable and accrued expense - USD ($)<br></strong></div></th>
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<th class="th"><div>Oct. 31, 2014</div></th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">372,753<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrent', window );">Accrued litigation expense, consulting and other professional fees</a></td>
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<td class="nump">320,493<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Accrued other</a></td>
<td class="nump">4,438<span></span>
</td>
<td class="nump">16,001<span></span>
</td>
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<td class="nump">$ 436,126<span></span>
</td>
<td class="nump">$ 1,249,426<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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccountsPayableAndAccruedExpenseAbstract</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>
</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
<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>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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Current Liabilities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 6<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735131328752">
<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">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 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">&#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 );">Number Of Warrants Cancelled</a></td>
<td class="nump">16,000<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_ShareRepurchaseProgramAxis=itus_StockRepurchasedOtherThanOpenMarketTransactionMember', window );">Stock Repurchased other than Open Market Transaction [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_TreasuryStockSharesAcquired', window );">Number of Common Stock Acquired</a></td>
<td class="nump">32,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(i)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareRepurchaseProgramAxis=itus_StockRepurchasedOtherThanOpenMarketTransactionMember</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;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735120900768">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Stock options outstanding and exercisable under 2003 share plan - 9 months ended Jul. 31, 2015 - 2003 Share Plan [Member] - $ / shares<br></strong></div></th>
<th class="th"><div>Total</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 $9.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number</a></td>
<td class="nump">77,880<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">1 year 332 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="nump">$ 2.89<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_RangeOfExercisePrices1075To1750Member', window );">Range Of Exercise Prices $10.75 To $17.50 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number</a></td>
<td class="nump">101,200<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">1 year 14 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="nump">$ 15.21<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_RangeOfExercisePrices1850To2300Member', window );">Range Of Exercise Prices $18.50 To $23.00 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number</a></td>
<td class="nump">192,720<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">1 year 142 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="nump">$ 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 $29.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number</a></td>
<td class="nump">40,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">2 years 21 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="nump">$ 29.25<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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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>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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<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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>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>
<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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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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<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:durationItemType</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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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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<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 );">- 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_A2003SharePlanMember</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>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>
<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>
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<td><strong> Data 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 );">- 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_RangeOfExercisePrices1850To2300Member</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>na</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 );">- 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>
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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>na</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735136559408">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 2003 and 2010 Share Plan - 9 months ended Jul. 31, 2015 - USD ($)<br></strong></div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_A2003SharePlanMember', window );">2003 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003and2010SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 2003 and 2010 Share Plan [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding at October 31, 2014</a></td>
<td class="nump">493,991<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding at October 31, 2014</a></td>
<td class="nump">$ 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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Options Forfeited, Shares</a></td>
<td class="num">(82,191)<span></span>
</td>
</tr>
<tr 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">$ 15.57<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 July 31, 2015</a></td>
<td class="nump">411,800<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 July 31, 2015</a></td>
<td class="nump">$ 17.22<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 July 31, 2015</a></td>
<td class="nump">$ 156,896<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_A2010SharePlanMember', 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_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003and2010SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 2003 and 2010 Share Plan [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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding at October 31, 2014</a></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 at October 31, 2014</a></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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Options Forfeited, Shares</a></td>
<td class="num">(243,355)<span></span>
</td>
</tr>
<tr class="re">
<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">$ 6.39<span></span>
</td>
</tr>
<tr 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">532,271<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 3.32<span></span>
</td>
</tr>
<tr 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">$ 986,700<span></span>
</td>
</tr>
<tr class="re">
<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 July 31, 2015</a></td>
<td class="nump">383,982<span></span>
</td>
</tr>
<tr 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 July 31, 2015</a></td>
<td class="nump">$ 3.45<span></span>
</td>
</tr>
<tr class="re">
<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 July 31, 2015</a></td>
<td class="nump">$ 652,231<span></span>
</td>
</tr>
<tr 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 );">Granted</a></td>
<td class="nump">60,400<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 );">Granted</a></td>
<td class="nump">$ 2.91<span></span>
</td>
</tr>
<tr 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 );">Exercised</a></td>
<td class="num">(13,334)<span></span>
</td>
</tr>
<tr class="re">
<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 );">Exercised</a></td>
<td class="nump">$ 2.58<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003and2010SharePlanLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003and2010SharePlanLineItems</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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_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>
</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_A2003SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_A2003SharePlanMember</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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_A2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_A2010SharePlanMember</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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<head>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735140045392">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Stock options outstanding under 2010 Share Plan - Jul. 31, 2015 - Range of Exercise Prices $2.58 To $9.25 [Member] - 2010 Share Plan [Member] - $ / shares<br></strong></div></th>
<th class="th"><div>Total</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</a></td>
<td class="nump">532,271<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 );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">7 years 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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price</a></td>
<td class="nump">$ 3.32<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="nump">383,982<span></span>
</td>
</tr>
<tr 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 );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">6 years 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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Options Exercisable,Weighted Average Exercise Price</a></td>
<td class="nump">$ 3.45<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>
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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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<td>us-gaap_</td>
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<tr>
<td><strong> Data 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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>instant</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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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: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>
<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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:durationItemType</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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<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:perShareItemType</td>
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<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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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<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 );">- 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_RangeOfExercisePrices258To925Member</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 );">- 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_A2010SharePlanMember</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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735134450512">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Stock options granted not under 2003 Share Plan and 2010 Share Plan - Jul. 31, 2015 - Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Stock options granted not under 2003 Share Plan and 2010 Share Plan [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding, Shares</a></td>
<td class="nump">1,780,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price Per Share</a></td>
<td class="nump">$ 2.69<span></span>
</td>
</tr>
<tr 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">$ 3,958,650<span></span>
</td>
</tr>
<tr class="re">
<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 July 31, 2015</a></td>
<td class="nump">1,689,179<span></span>
</td>
</tr>
<tr 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 July 31, 2015</a></td>
<td class="nump">$ 2.69<span></span>
</td>
</tr>
<tr class="re">
<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 July 31, 2015</a></td>
<td class="nump">$ 3,748,399<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_STOCKBASEDCOMPENSATIONDetailsStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems</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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>instant</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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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>
</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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<head>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735122961776">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Reconciliation of net loss to net cash provided by (used in) operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss</a></td>
<td class="num">$ (86,630)<span></span>
</td>
<td class="num">$ (6,452,870)<span></span>
</td>
</tr>
<tr class="re">
<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">2,338,299<span></span>
</td>
<td class="nump">2,346,587<span></span>
</td>
</tr>
<tr 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">40,748<span></span>
</td>
</tr>
<tr class="re">
<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_AmortizationOfIntangibleAssets', window );">Amortization of patents</a></td>
<td class="nump">$ 243,972<span></span>
</td>
<td class="nump">233,129<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 acquisition obligations to interest expense</a></td>
<td class="nump">$ 333,779<span></span>
</td>
<td class="nump">286,002<span></span>
</td>
</tr>
<tr 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 convertible debenture discount to interest expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">575,210<span></span>
</td>
</tr>
<tr class="re">
<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="nump">482,915<span></span>
</td>
</tr>
<tr 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">62,000<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_DerivativeGainLossOnDerivativeNet', window );">Change in value of derivative liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,460,704<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_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants', window );">Loss on acquisition of 32,000 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</a></td>
<td class="nump">$ 101,280<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_OtherNoncashIncomeExpense', window );">Other</a></td>
<td class="nump">19,363<span></span>
</td>
<td class="num">$ (553)<span></span>
</td>
</tr>
<tr 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_IncreaseDecreaseInOperatingCapitalAbstract', 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="nump">41,667<span></span>
</td>
</tr>
<tr 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">(133,035)<span></span>
</td>
<td class="nump">60,066<span></span>
</td>
</tr>
<tr class="re">
<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">(813,300)<span></span>
</td>
<td class="nump">28,101<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">$ (284,536)<span></span>
</td>
<td class="num">(55,343)<span></span>
</td>
</tr>
<tr class="re">
<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">$ 2,165,292<span></span>
</td>
<td class="num">(2,017,179)<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_NetCashProvidedByUsedInInvestingActivitiesAbstract', 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">(2,550,000)<span></span>
</td>
<td class="num">(3,700,000)<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 and sales of short-term investments in certificates of deposit</a></td>
<td class="nump">2,650,000<span></span>
</td>
<td class="nump">$ 1,150,000<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 for purchases of property and equipment</a></td>
<td class="num">$ (54,776)<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_PaymentsForProceedsFromOtherInvestingActivities', window );">Other</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (3,798)<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_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by (used in) investing activities</a></td>
<td class="nump">$ 45,224<span></span>
</td>
<td class="num">(2,553,798)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', 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="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 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="re">
<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,673,135<span></span>
</td>
</tr>
<tr 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_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="re">
<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">$ 34,335<span></span>
</td>
<td class="nump">51,225<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_us-gaap_RepaymentsOfConvertibleDebt', window );">Payments to redeem convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (200,000)<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_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">$ (445,252)<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_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in) provided by financing activities</a></td>
<td class="num">(410,917)<span></span>
</td>
<td class="nump">$ 7,324,369<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_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Net increase in cash and cash equivalents</a></td>
<td class="nump">1,799,599<span></span>
</td>
<td class="nump">2,753,392<span></span>
</td>
</tr>
<tr 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 beginning of period</a></td>
<td class="nump">3,361,246<span></span>
</td>
<td class="nump">898,172<span></span>
</td>
</tr>
<tr class="re">
<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 period</a></td>
<td class="nump">$ 5,160,845<span></span>
</td>
<td class="nump">3,651,564<span></span>
</td>
</tr>
<tr 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_NoncashInvestingAndFinancingItemsAbstract', window );"><strong>Supplemental disclosure of investing and 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_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="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_CommonStockIssuedToAcquirePatentLicense', window );">Common stock to acquire patent license</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">247,600<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_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="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_DebtInstrumentConvertibleBeneficialConversionFeature', window );">Fair value of debenture embedded conversion feature at date of issuance</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,570,000<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_FairValueAdjustmentOfWarrants', window );">Relative fair value of warrants issued with convertible debentures</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 513,122<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 class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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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<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 cancellatio n of 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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</div></td></tr>
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<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</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_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>
</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>
<tr>
<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_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</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>
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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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1A<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6451184&amp;loc=d3e28541-108399<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.8)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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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</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 230<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21538-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Beneficial Conversion Feature<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505963<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (a),(c),(d),(e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 480<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 25<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6939902&amp;loc=d3e20148-110875<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_IncreaseDecreaseInOperatingCapitalAbstract</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_NetCashProvidedByUsedInFinancingActivitiesAbstract</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>
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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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_NetCashProvidedByUsedInInvestingActivitiesAbstract</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_NoncashInvestingAndFinancingItemsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_NoncashInvestingAndFinancingItemsAbstract</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4332-108586<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4313-108586<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6367179&amp;loc=d3e4304-108586<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_PaymentsForProceedsFromOtherInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 cash outflow or inflow from other investing activities. This element is used when there is not a more specific and appropriate element in the 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3098-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3095-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForProceedsFromOtherInvestingActivities</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (j)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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>
</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
<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>
</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>debit</td>
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<td>duration</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123633536">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Stock options outstanding not under 2003 Share Plan and 2010 Share Plan - Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] - $ / shares<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 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_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>
<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 );">Options Outstanding, Weighted Average Exercise Price</a></td>
<td class="nump">$ 2.69<span></span>
</td>
<td class="nump">$ 5.50<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_RangeOfExercisePrices258To550Member', window );">Range Of Exercise Prices $2.58 To $5.50 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number</a></td>
<td class="nump">1,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">7 years 3 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding, Weighted Average Exercise Price</a></td>
<td class="nump">$ 2.69<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_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Options Exercisable, Number</a></td>
<td class="nump">1,689,179<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2</a></td>
<td class="text">7 years 3 days<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Options Exercisable,Weighted Average Exercise Price</a></td>
<td class="nump">$ 2.69<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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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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><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>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</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>
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</table></div>
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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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table>
<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (e)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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_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>
</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_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices258To550Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeOfExercisePrices258To550Member</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>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735310058672">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS (Details)<br></strong></div></th>
<th class="th" colspan="1">1 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 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_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract', window );"><strong>New Accounting Pronouncements and Changes in Accounting Principles [Abstract]</strong></a></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_ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance', window );">Approved Deferral Period of Effective Date of New Guidance</a></td>
<td class="text">1 year<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 approved period of deferral for the effective date of the new guidance.</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_ApprovedDeferralPeriodOfEffectiveDateOfNewGuidance</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>
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<td>na</td>
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<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_us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract</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:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>27
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<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;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123173552">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>Current assets:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 5,160,845<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-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">$ 193,612<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">7,754,457<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 $558,425 and $314,453, respectively</a></td>
<td class="nump">2,477,687<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 $9,786 and $48,842, respectively</a></td>
<td class="nump">47,287<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">10,279,431<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">436,126<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">275,540<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">711,666<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</a></td>
<td class="nump">3,570,060<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">$ 4,281,726<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 (Note 10)</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>
<tr class="re">
<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 $.01 per share; 24,000,000 shares authorized; 8,720,878 and 8,788,176 shares issued and outstanding, respectively</a></td>
<td class="nump">87,209<span></span>
</td>
<td class="nump">87,882<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">150,752,848<span></span>
</td>
<td class="nump">148,677,413<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(144,856,352)<span></span>
</td>
<td class="num">(144,769,722)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders&#8217; equity</a></td>
<td class="nump">5,997,705<span></span>
</td>
<td class="nump">4,009,573<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and shareholders&#8217; equity</a></td>
<td class="nump">$ 10,279,431<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 $100 per share; 140 shares issued and outstanding, respectively</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders&#8217; equity</a></td>
<td class="nump">$ 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 of the costs pertaining to the exclusive legal rights granted to the owner of the patent to exploit an invention or a process for a period of time specified by law. Such costs may have been expended to directly apply and receive patent rights, or to acquire such rights.</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>
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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>
</tr>
<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_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>Patent acquisition obligation.</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>
<td>itus_</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>
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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_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>
</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19,20)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.3-4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph a(1)<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 4<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<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_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.30(a)(1))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 31<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 12<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-03.(a),19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 210<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-03.17)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19-26)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.32)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 25<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.13)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph a<br><br><br><br> -Article 5<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 8<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.31(a)(3))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph g<br><br><br><br> -Article 7<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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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<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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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_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>
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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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<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>
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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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<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_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>
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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>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123403056">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY - 9 months ended Jul. 31, 2015 - USD ($)<br></strong></div></th>
<th class="th"><div>Preferred Stock [Member]</div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Oct. 31, 2014</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,882<span></span>
</td>
<td class="nump">$ 148,677,413<span></span>
</td>
<td class="num">$ (144,769,722)<span></span>
</td>
<td class="nump">$ 4,009,573<span></span>
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</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="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>
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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_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="nump">2,338,299<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,338,299<span></span>
</td>
</tr>
<tr 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="nump">$ 133<span></span>
</td>
<td class="nump">34,202<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">34,335<span></span>
</td>
</tr>
<tr class="re">
<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="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>
</tr>
<tr 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="nump">$ 116<span></span>
</td>
<td class="nump">45,984<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">46,100<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_StockIssuedDuringPeriodSharesIssuedForServices', window );">Common stock issued to consultants (in Shares)</a></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>
</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_AdjustmentToAdditionalPaidInCapitalTrasuryStockValueAcquiredAndCancellationOfWarrants', window );">Repurchase of 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="num">(343,972)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(343,972)<span></span>
</td>
</tr>
<tr class="re">
<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="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>
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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_StockRepurchasedAndRetiredDuringPeriodShares', window );">Retire common stock repurchased (in Shares)</a></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>
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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_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="num">(86,630)<span></span>
</td>
<td class="num">(86,630)<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 Jul. 31, 2015</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,209<span></span>
</td>
<td class="nump">$ 150,752,848<span></span>
</td>
<td class="num">$ (144,856,352)<span></span>
</td>
<td class="nump">$ 5,997,705<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 Jul. 31, 2015</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">8,720,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<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_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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30, 31<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 310<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SAB TOPIC 4.E)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29-31)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 4<br><br><br><br> -Section E<br><br><br><br></p></div>
<a href="javascript:void(0);" 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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123746064">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - Changes in the fair value of the Company's Level 3 financial liabilities measured at fair value - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ChangesInTheFairValueOfTheCompanysLevel3FinancialLiabilitiesMeasuredAtFairValueAbstract', window );"><strong>Changes in the fair value of the Company's Level 3 financial liabilities measured at fair value [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 3,236,281<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="re">
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,850,511<span></span>
</td>
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<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 );">Accreted interest on patent obligation</a></td>
<td class="nump">333,779<span></span>
</td>
<td class="nump">$ 286,002<span></span>
</td>
<td class="nump">385,770<span></span>
</td>
</tr>
<tr class="re">
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<td class="nump">$ 3,570,060<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,236,281<span></span>
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<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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<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_ChangesInTheFairValueOfTheCompanysLevel3FinancialLiabilitiesMeasuredAtFairValueAbstract</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue</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>Represents the initial fair value recorded for liabilities incurred on transfer of financial assets in a securitization, asset-backed financing arrangement, or a similar transfer which transaction is recognized as a sale of the transferred financial 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 860<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -Subparagraph (b)(2)(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51814546&amp;loc=d3e107207-111719<br><br><br><br></p></div>
<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;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735309715472">
<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">9 Months Ended</th>
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<tr><th class="th"><div>Jul. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="2" valign="bottom" width="13%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">July 31,</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="2" valign="bottom" width="13%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">October 31,</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">2014</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accounts payable</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">424,688 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">540,179 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Payroll and related expenses</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">372,753 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accrued litigation expense, consulting and&nbsp; other professional fees</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">7,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">320,493 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accrued other</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">4,438 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">16,001 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; display: none; line-height: normal; text-align: left;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">436,126 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,249,426 </font></p></td>
     </tr>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PayablesAndAccrualsAbstract</td>
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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">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735357882320">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INVESTMENTS (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentsScheduleAbstract', window );"><strong>Investments Schedule [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CertificatesOfDepositAtCarryingValue', window );">Certificates of Deposit, at Carrying Value</a></td>
<td class="nump">$ 2,400,000<span></span>
</td>
<td class="nump">$ 2,500,000<span></span>
</td>
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<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_invest_InvestmentsScheduleAbstract">
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<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>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>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735134823168">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BUSINESS AND FUNDING (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromOperatingActivities', window );">Proceeds from Operating Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,165,000<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_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="nump">45,224<span></span>
</td>
<td class="num">$ (2,553,798)<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_ProceedsFromSaleOfShortTermInvestments', window );">Proceeds from Sale of Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,650,000<span></span>
</td>
<td class="nump">1,150,000<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="nump">2,550,000<span></span>
</td>
<td class="nump">$ 3,700,000<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_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="nump">54,776<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_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="num">(410,917)<span></span>
</td>
<td class="nump">$ 7,324,369<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_PaymentsForRepurchaseOfCommonStock', window );">Payments for Repurchase of Common Stock</a></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="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_TreasuryStockSharesAcquired', window );">Treasury Stock, Shares, Acquired (in Shares)</a></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>
<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_TreasuryStockSharesAcquiredInOpenMarketTransactions', window );">Treasury Stock Shares Acquired in Open Market Transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 60,232<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_PaymentsForPurchaseOfCommonStockInOpenMarketTransactions', window );">Payments for Purchase of Common Stock in Open Market Transactions</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 245,000<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_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares)</a></td>
<td class="nump">16,000<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>
</tr>
<tr class="re">
<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="nump">$ 34,335<span></span>
</td>
<td class="nump">$ 51,225<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_CashAndCashEquivalentsPeriodIncreaseDecrease', window );">Cash and Cash Equivalents, Period Increase (Decrease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,799,599<span></span>
</td>
<td class="nump">2,753,392<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="nump">$ 7,561,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">7,561,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5,861,000<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_PaymentsToAcquireIntangibleAssets', window );">Payments to Acquire Intangible Assets</a></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">3,036,000<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_AmortizationOfIntangibleAssets', window );">Amortization of Intangible Assets</a></td>
<td class="nump">$ 81,324<span></span>
</td>
<td class="nump">$ 81,289<span></span>
</td>
<td class="nump">$ 243,972<span></span>
</td>
<td class="nump">$ 233,129<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_PaymentsForPurchaseOfCommonStockInOpenMarketTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 acquire common stock in open market transactions 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_PaymentsForPurchaseOfCommonStockInOpenMarketTransactions</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_TreasuryStockSharesAcquiredInOpenMarketTransactions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 purchased in open market transactions 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>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_TreasuryStockSharesAcquiredInOpenMarketTransactions</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>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_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_AccountingPoliciesAbstract</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 830<br><br><br><br> -SubTopic 230<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash Equivalents<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Cash<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(i)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br></p></div>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 24<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 26<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br><br><br><br></p></div>
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<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>The cash outflow to reacquire common stock 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 15<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3291-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 acquire asset without physical form usually arising from contractual or other legal rights, excluding goodwill.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireIntangibleAssets</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>
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</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
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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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_ProceedsFromOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 amount of cash received from operating activities 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 25<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromOperatingActivities</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Investing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
<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>
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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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (j)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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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<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>
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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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<td>duration</td>
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<head>
<title></title>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735133754640">
<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="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 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">&#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="nump">16,000<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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(i)(2))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_TreasuryStockSharesAcquired">
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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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Article 3<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<DOCUMENT>
<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735125672240">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Patents, accumulated amortization (in Dollars)</a></td>
<td class="nump">$ 558,425<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">$ 9,786<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">8,720,878<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">8,720,878<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_PreferredStockSharesIssued', window );">Preferred stock, shares issued</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_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</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_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="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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 360<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.14)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></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><strong> Name:</strong></td>
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<td>us-gaap_</td>
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<td>xbrli:sharesItemType</td>
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<tr>
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<td>na</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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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: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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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:sharesItemType</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></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>
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</table></div>
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<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>
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<tr>
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<td></td>
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<td><strong> Data Type:</strong></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>
<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>
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<td></td>
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<td>na</td>
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<td></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735309685200">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 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_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract', window );"><strong>New Accounting Pronouncements and Changes in Accounting Principles [Abstract]</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_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock', window );">New Accounting Pronouncements and Changes in Accounting Principles [Text Block]</a></td>
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   <div style="float: left; width: 36.0pt;">
    <font style="font-family: times new roman,times; font-size: small;">8.</font>
   </div>
   <div>
    <font style="text-decoration: underline; font-family: times new roman,times; font-size: small;">EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS</font>
   </div>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (&#x201c;ASU 2014-09&#x201d;), Revenue from Contracts with Customers. 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.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>In June 2014, the FASB issued Accounting Standards Update 2014-12 (&#x201c;ASU 2014-12&#x201d;), Compensation &#x2013; Stock Compensation. 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.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>In August 2014, the FASB issued Accounting Standards Update 2014-15 (&#x201c;ASU 2014-15&#x201d;). This amendment requires management to assess an entity&#x2019;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.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>In April 2015, the FASB issued Accounting Standards&nbsp;Update 2015-03 (&#x201c;ASU 2015-03&#x201d;) to simplify the presentation of debt issuance costs. This amendments 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.&nbsp;We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</font>
  </div><br/><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Change in Accounting Principle<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6507316<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Direct Effects of a Change in Accounting Principle<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510796<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 250<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22583-107794<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Indirect Effects of a Change in Accounting Principle<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515603<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 250<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22580-107794<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 270<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.10-01.(b)(6))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27015980&amp;loc=d3e46468-122699<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Accounting Change<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6503790<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 250<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22499-107794<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Retrospective Application<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6523989<br><br><br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 270<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 13<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655806&amp;loc=d3e765-108305<br><br><br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 270<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 12<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51655806&amp;loc=d3e725-108305<br><br><br><br></p></div>
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<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>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>
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<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 style="display: none;"><p>No definition available.</p></div>
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<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 );">+ 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 style="display: none;"><p>No definition available.</p></div>
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<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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735309693536">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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    <font>9.</font>
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   <font>We file Federal, New York State and California State income tax returns. Due to net operating losses, the statute of limitations for Federal and New York State income tax returns remains open to examination by taxing authorities since the fiscal year ended October 31, 1997. We account for interest and penalties related to income tax matters, if <font>any, in marketing, general and administrative expenses. There are no unrecognized income tax benefits as of July 31, 2015 and October 31, 2014.</font></font>
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   <font>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. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.&nbsp;We have substantial net operating loss carryforwards in all jurisdictions where we are subject to tax. We have provided a full valuation allowance against our deferred tax asset due to our historical pre-tax losses and the uncertainty regarding the realizability of these deferred tax assets.</font>
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   <font>On December 29, 2014, we reached a Settlement Agreement resulting in our receipt of an aggregate of $9,000,000 in settlement of a dispute (Note 2). As a result we realized taxable income during the first quarter of fiscal year 2015. We expect any taxable income for the full fiscal year will be completely offset by our net operating loss carryforwards, resulting in no tax due in any jurisdiction. Accordingly, we have not recorded a tax provision for the interim periods anticipating a partial release of the valuation reserve recorded against our deferred tax assets to the extent of the net operating loss carryforwards actually used for the full fiscal year.</font>
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<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 entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(h))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32559-109319<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 15<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32718-109319<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 9<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32537-109319<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123034656">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 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>
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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">$ 255,000<span></span>
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<td class="nump">$ 1,105,000<span></span>
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<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="nump">$ 9,000,000<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_SalesRevenueNet', window );">Total revenue</a></td>
<td class="nump">$ 95,000<span></span>
</td>
<td class="nump">$ 1,187,320<span></span>
</td>
<td class="nump">9,255,000<span></span>
</td>
<td class="nump">$ 2,292,320<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>
<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">48,917<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">152,861<span></span>
</td>
<td class="nump">465,095<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 expense</a></td>
<td class="nump">32,636<span></span>
</td>
<td class="nump">$ 162,520<span></span>
</td>
<td class="nump">3,472,908<span></span>
</td>
<td class="nump">266,537<span></span>
</td>
</tr>
<tr class="re">
<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">81,324<span></span>
</td>
<td class="nump">81,289<span></span>
</td>
<td class="nump">243,972<span></span>
</td>
<td class="nump">233,129<span></span>
</td>
</tr>
<tr 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 expenses of $780,591, $469,481, $2,338,299 and $2,346,587 respectively)</a></td>
<td class="nump">1,422,844<span></span>
</td>
<td class="nump">1,103,094<span></span>
</td>
<td class="nump">5,152,489<span></span>
</td>
<td class="nump">4,807,154<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total operating costs and expenses</a></td>
<td class="nump">1,585,721<span></span>
</td>
<td class="nump">1,346,903<span></span>
</td>
<td class="nump">9,022,230<span></span>
</td>
<td class="nump">5,771,915<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">Income (loss) from operations</a></td>
<td class="num">$ (1,490,721)<span></span>
</td>
<td class="num">(159,583)<span></span>
</td>
<td class="nump">$ 232,770<span></span>
</td>
<td class="num">(3,479,595)<span></span>
</td>
</tr>
<tr class="re">
<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 liabilities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 850,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,460,704)<span></span>
</td>
</tr>
<tr 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 );">Loss 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="num">(482,915)<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="num">$ (115,981)<span></span>
</td>
<td class="num">$ (280,913)<span></span>
</td>
<td class="num">$ (333,779)<span></span>
</td>
<td class="num">(1,082,041)<span></span>
</td>
</tr>
<tr 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_InvestmentIncomeDividend', window );">Dividend income</a></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">47,568<span></span>
</td>
</tr>
<tr class="re">
<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">$ 4,523<span></span>
</td>
<td class="nump">$ 1,497<span></span>
</td>
<td class="nump">$ 14,379<span></span>
</td>
<td class="nump">4,817<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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">(Loss) income before income taxes</a></td>
<td class="num">$ (1,602,179)<span></span>
</td>
<td class="nump">$ 411,001<span></span>
</td>
<td class="num">$ (86,630)<span></span>
</td>
<td class="num">$ (6,452,870)<span></span>
</td>
</tr>
<tr class="re">
<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</a></td>
<td class="text">&#160;<span></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_NetIncomeLoss', window );">Net (loss) income</a></td>
<td class="num">$ (1,602,179)<span></span>
</td>
<td class="nump">$ 411,001<span></span>
</td>
<td class="num">$ (86,630)<span></span>
</td>
<td class="num">$ (6,452,870)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherComprehensiveIncomeLossTaxAbstract', window );"><strong>Other comprehensive (loss) income:</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_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax', window );">Unrealized income (loss) on investment in Videocon Industries Limited global depository receipts</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">173,518<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(46,371)<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_ComprehensiveIncomeNetOfTax', window );">Total comprehensive (loss) income</a></td>
<td class="num">$ (1,602,179)<span></span>
</td>
<td class="nump">$ 584,519<span></span>
</td>
<td class="num">$ (86,630)<span></span>
</td>
<td class="num">$ (6,499,241)<span></span>
</td>
</tr>
<tr 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) income per common share:</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_EarningsPerShareBasic', window );">Basic (in Dollars per share)</a></td>
<td class="num">$ (0.18)<span></span>
</td>
<td class="nump">$ 0.05<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_EarningsPerShareDiluted', window );">Diluted (in Dollars per share)</a></td>
<td class="num">$ (0.18)<span></span>
</td>
<td class="nump">$ 0.04<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_EarningsPerShareBasicAndDiluted', window );">Basic and diluted (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (0.01)<span></span>
</td>
<td class="num">$ (0.75)<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_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>
<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_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in Shares)</a></td>
<td class="nump">8,762,540<span></span>
</td>
<td class="nump">8,930,070<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_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in Shares)</a></td>
<td class="nump">8,792,540<span></span>
</td>
<td class="nump">10,633,900<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_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Basic and diluted (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">8,773,279<span></span>
</td>
<td class="nump">8,619,845<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_LitigationAndLicensingExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<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>
<td style="white-space:nowrap;">itus_LitigationAndLicensingExpenses</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>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_RevenueFromPatentAssertionActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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>
<td style="white-space:nowrap;">itus_RevenueFromPatentAssertionActivities</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 350<br><br><br><br> -SubTopic 30<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></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_ComprehensiveIncomeNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831223<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 5<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e557-108580<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComprehensiveIncomeNetOfTax</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: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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CostsAndExpenses</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4A<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5618551-113959<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 815<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4C<br><br><br><br> -Subparagraph (a),(c),(d),(e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56946850&amp;loc=SL5624171-113959<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_EarningsPerShareAbstract</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_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 (loss) for the period per each share of common stock or unit outstanding 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 55<br><br><br><br> -Paragraph 52<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.23)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 7<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</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_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_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 (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>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.21)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 18<br><br><br><br> -Article 7<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 5<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 21<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12317-112629<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 470<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 40<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49170532&amp;loc=d3e12355-112629<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 740<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 9<br><br><br><br> -Subparagraph (a),(b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 235<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.4-08.(h))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Income Tax Expense (or Benefit)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 835<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 942<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.9-04.9)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.7(a))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.7(b))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1(d),(e))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Net Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.19)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.18)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 944<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.7-04.22)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br><br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Other Comprehensive Income<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br><br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 03<br><br><br><br> -Paragraph 19<br><br><br><br> -Article 5<br><br><br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 04<br><br><br><br> -Paragraph 20<br><br><br><br> -Article 9<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<tr>
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<td>xbrli:stringItemType</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_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>
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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>
<td>credit</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_OtherComprehensiveIncomeLossTaxAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_OtherComprehensiveIncomeLossTaxAbstract</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: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_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 tax, before reclassification adjustments, of unrealized holding gain (loss) on available-for-sale 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10A<br><br><br><br> -Subparagraph (e)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=SL7669646-108580<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 220<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 11<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36458714&amp;loc=d3e637-108580<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax</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>
<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1(e))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Related Parties<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 946<br><br><br><br> -SubTopic 225<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.6-07.1(c))<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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</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>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.3)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
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<tr>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br></p></div>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 225<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (SX 210.5-03.4)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 330<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 30<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51677171&amp;loc=d3e3636-108311<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
<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 style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<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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<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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Weighted-Average Number of Common Shares Outstanding<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735321155040">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract', window );"><strong>Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</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_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</a></td>
<td class="text"><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <div style="float: left; width: 36.0pt;">
    <font>3. </font>
   </div>
   <div>
    <font style="text-decoration: underline;">STOCK BASED COMPENSATION</font>
   </div>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The Company maintains stock equity incentive plans under which the Company grants non-qualified stock options, stock appreciation rights, stock awards, performance awards, or stock units to employees, directors and consultants.</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Stock Option Compensation Expense </font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>We account for stock options granted to employees and directors using the accounting guidance in Accounting Standards Codification 718 &#x201c;Stock Compensation&#x201d; (&#x201c;ASC 718&#x201d;). In accordance with ASC 718, we estimate the fair value of service based stock options and performance based options on the date of grant, using the Black-Scholes pricing model. For options vesting if the trading price of the Company&#x2019;s common stock exceeds price targets we use a Monte Carlo Simulation in estimating the fair value at grant date. 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. For performance based awards, compensation expense is recognized over the requisite or implied service period of the grant when the performance target is deemed probable. </font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $1,671,000 and $1,562,000, during the nine&nbsp;months ended July 31, 2015 and 2014, respectively, and approximately $445,000 and $573,000 during the three months ended July 31, 2015 and 2014, respectively.&nbsp;Stock-based compensation expense for the nine months ended July 31, 2015 and 2014 includes approximately $1,587,000 and $1,089,000, respectively, and during the three months ended July 31, 2015 and 2014 approximately $408,000 and $496,000, respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of July 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 $644,000, which will be recognized over a weighted-average period of 1 year. </font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   &nbsp;
   <font>We account for stock options granted to consultants using the accounting guidance&nbsp;included in ASC 505-50 &#x201c;Equity-Based Payments to Non-Employees&#x201d; (&#x201c;ASC 505-50&#x201d;). 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. For options vesting if the trading price of the Company&#x2019;s common stock exceeds price targets we estimate the fair value at each reporting period using&nbsp;a Monte Carlo Simulation. 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. For performance based awards, compensation expense is recognized when the performance target is achieved.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>We recorded consulting expense, related to stock options granted to consultants, during the nine&nbsp;months ended July 31, 2015 and 2014&nbsp;of approximately $668,000 and $784,000, respectively, and approximately $335,000 and $(103,000) during the three months ended July 31, 2015 and 2014, respectively. &nbsp;Stock-based consulting expense for the nine&nbsp;and three months ended July 31, 2015 represents the amortization of <font>compensation cost for stock options granted in prior periods but vested in the current period. Stock-based consulting expense for the nine and three ended July 31, 2014 includes approximately $736,000 and $(107,000), respectively, related to the amortization of compensation cost for stock options granted in prior periods but vested in the current period. As of July 31, 2015, there was unrecognized consulting expense related to non-vested stock options granted to consultants, related to service based options of approximately $221,000, which will be recognized over a weighted-average period of .5 years.</font></font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Fair Value Determination&nbsp;</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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. To determine the weighted average fair value of stock options on the date of grant, employees and directors are included in a single group. The fair value of stock options granted to consultants is determined on an individual basis. Stock options we granted during the nine&nbsp;months ended July 31, 2015 consisted of awards exercisable for 10&nbsp;years that vest over one year or over three years. The stock options we granted during the nine&nbsp;months ended July 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. </font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-size: 10.0pt; font-family: Times New Roman;">
   <font style="font-family: times new roman,times; font-size: small;">The following weighted average assumptions were used in estimating the fair value of stock options granted during the nine months ended July 31, 2015 and 2014, and the three months ended July 31, 2015 and 2014.&nbsp;</font>
  </div><br/><div align="center">
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="3" valign="bottom" width="26%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">For the Nine Months</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Ended July 31,</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="3" valign="bottom" width="26%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">For the Three Months</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Ended July 31,</font></p></td>
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     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2014</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Weighted average fair value at grant date</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.40 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$5.50 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.09 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$6.25 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Valuation assumptions:</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Expected life (years)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.36</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.79</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.75</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.98</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Expected volatility</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">114.8%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">115.4%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">117.8%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">115.1%</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Risk-free interest rate</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.66%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.82%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2.01%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.93%</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Expected dividend yield</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
     </tr>

   </table>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The expected term of stock options represents the weighted average period the stock options are expected to remain outstanding. We use the simplified method to determine expected term. 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. 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. 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 <font>expected term of the underlying grants. We made the dividend yield assumption based on our history of not paying dividends and our expectation not to pay dividends in the future. </font></font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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. 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. Based on our historical experience we have not reduced the amount of stock-based compensation expenses for anticipated forfeitures.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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. 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.</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Stock Option Activity&nbsp;</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>During the nine months ended July 31, 2015 and 2014, we granted options to purchase 60,400 and 520,400 shares, respectively, of common stock at weighted average exercise prices of $2.91 and $5.50 per share, respectively, pursuant to the&nbsp;ITUS Corporation 2010 Share Incentive Plan (the "2010 Share Plan&#x201d;). During the nine months ended July 31, 2015, stock options to purchase 13,334 shares of common stock were exercised with aggregate proceeds of approximately $34,000. During the nine months ended July 31, 2014, stock options to purchase 13,800 shares of common stock were exercised with aggregate proceeds of approximately $51,000. </font>
  </div><br/><div style="margin-bottom: 12.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Stock&nbsp;Option&nbsp;Plans</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>As of July 31, 2015, we have two stock option plans: the ITUS Corporation 2003 Share Incentive Plan (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. </font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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. In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the ability to grant future options on April 21, 2013. Information regarding the 2003 Share Plan for the nine months ended July 31, 2015 is as follows:</font>
  </div><br/><div align="center">
   <table style="width: 550pt;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">&nbsp;Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average Exercise</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Price Per Share</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="17%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Aggregate</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Intrinsic</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Value</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Shares</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding at October 31, 2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">493,991 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$18.00 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Forfeited</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">(82,191)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$15.57 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding and exercisable at July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">411,800 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$17.22 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">156,896 </font></p></td>
     </tr>

   </table>
  </div><br/><div style="text-align: justify; font-size: 10.0pt; font-family: Times New Roman;">
   <font style="font-family: Times New Roman; font-size: small;"><font style="font-family: times new roman,times;">The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of July 31, 2015:</font> </font>
  </div><br/><div align="center">
   <div align="center">
    <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="4" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="20%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Range of</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Prices</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Outstanding</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp; $ 1.79 - $ 9.25</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">77,880</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.91</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2.89 </font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$10.75 - $17.50</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">101,200</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.04</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">15.21 </font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp; $18.50 - $23.00</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">192,720</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.39</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">21.57 </font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$29.25 </font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">40,000</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2.06</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">29.25 </font></p></td>
      </tr>

    </table>
   </div>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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. As of July 31, 2015, the 2010 Share Plan had 982,955 shares available for future grants. Information regarding the 2010 Share Plan for the nine months ended July&nbsp;31, 2015 is as follows: </font>
  </div><br/><table style="width: 550pt;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average Exercise</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Price Per Share</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="17%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Aggregate</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Intrinsic</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Value</font></p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Shares</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding at October 31, 2014</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">728,560 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$5.75 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Granted</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">60,400 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.91 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Exercised</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">(13,334)</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.58 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Forfeited</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">(243,355)</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$6.39 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 15.25pt;">
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding&nbsp; at July 31, 2015</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">532,271 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.32 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">986,700 </font></p></td>
    </tr>
    <tr style="height: 15.95pt;">
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Exercisable at July 31, 2015</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">383,982 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.45 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">652,231 </font></p></td>
    </tr>

  </table><br/><div style="text-align: justify; font-size: 12.0pt; font-family: Times New Roman;">
   <font style="font-family: times new roman,times; font-size: small;">The following table summarizes information about stock options outstanding under the 2010 Share Plan as of July 31, 2015:</font>
  </div><br/><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Exercisable</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Range of</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Prices</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercisable</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.58 - $9.25</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">532,271</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">7.25</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.32 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">383,982</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">6.75</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.45 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;" align="center"><font style="font-size: 1pt; color: black; font-family: times new roman;">.</font></p></td>
     </tr>

   </table>
  </div><br/><div style="margin-bottom: 12.0pt; text-align: justify; text-indent: 36.0pt; font-size: 12.0pt; font-family: Times New Roman;">
   <font style="font-size: small;"><font style="font-family: times new roman,times;">In addition to options granted under the 2003 Share Plan and the 2010 Share Plan,&nbsp;the Board of Directors approved the grant of stock options to purchase 1,780,000&nbsp;shares. Information regarding stock options outstanding that were not granted under the 2003 Plan or the 2010 Plan for the nine months ended July 31, 2015 is as follows:</font> </font>
  </div><br/><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average Exercise</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Price Per Share</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Aggregate</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Intrinsic</font><br /><font style="font-size: 10pt; font-family: times new roman;">Value</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Shares</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding at October 31, 2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,780,000</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$5.50 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding&nbsp; at July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,780,000</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,958,650 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Exercisable at July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,689,179</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,748,399 </font></p></td>
     </tr>

   </table>
  </div><br/><div style="margin-bottom: 12.0pt; text-align: justify; text-indent: 36.0pt; font-size: 12.0pt; font-family: Times New Roman;">
   <font style="font-family: times new roman,times; font-size: small;">The following table summarizes information about stock options outstanding that were not granted under the 2003 Share Plan or the 2010 Share Plan as of July 31, 2015:</font>
  </div><br/><div align="center">
   <div align="center">
     &nbsp;
   </div>
   <div align="center">
    <div align="center">
     <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Outstanding</font></p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Exercisable</font></p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
       </tr>
       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Range of</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Prices</font></p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Outstanding</font></p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercisable</font></p></td>
       </tr>
       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       </tr>
       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.58-$5.50</font></p></td>
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        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">7.01</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
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        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,689,179</font></p></td>
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        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
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        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
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   <font>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. On February 5, 2015, management&nbsp;acted to re-price 2,184,126 issued and outstanding stock options (the &#x201c;Re-Priced Options&#x201d;) 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&#x2019;s common stock on February 5, 2015. All other terms of the previously granted Re-Priced Options remain the same. The Company recorded additional stock-based compensation of approximately $297,000, as of February 5, 2015, related to this re-pricing. 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.</font>
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  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>We account for stock awards granted to employees and consultants based on their grant date fair value, in accordance with ASC 718 and ASC 505-50, respectively. During the nine&nbsp;months ended July 31, 2015 and 2014, we issued 11,600 shares and 5,200 shares, respectively, of common stock to consultants for services rendered. We recorded consulting expense for the nine months ended July 31, 2015 and 2014 of approximately $46,000 and $41,000, respectively, for the shares of common stock issued to consultants. During the three months ended July 31, 2015 and 2014, we issued 10,000 shares and 800 shares, respectively, of common stock to consultants for services rendered. We recorded consulting expense for the three months ended July 31, 2015 and 2014 of approximately $40,000 and $6,000, respectively, for the shares of common stock issued to consultants. </font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 40<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 50<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51659978&amp;loc=d3e25284-112666<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735140266784">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>AUO SETTLEMENT<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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    &nbsp;
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    <font>On December 29, 2014, the Company and AU&nbsp;Optronics Corporation (&#x201c;AUO&#x201d;) 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 the Company&#x2019;s patented ePaper&reg; Electrophoretic Display, and Nano Field Emission Display technologies. The Company received an aggregate of $9,000,000 from AUO, and transferred certain electrophoretic display patents to AUO. For more information regarding our lawsuit against AUO and the Settlement Agreement and Patent Assignment Agreement with AUO, please refer to our Annual Report on Form 10-K filed with the SEC on January 29, 2015.</font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies.</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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735313558208">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NET LOSS PER SHARE OF COMMON STOCK (Tables)<br></strong></div></th>
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      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">8,930,070</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Effect of convertible debentures</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739,958</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Effect of warrants</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71,822</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Effect of stock options</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">892,050</font></p></td>
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     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Dilutive weighted average common shares outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,633,900</font></p></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.</p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735367643456">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENT AND CONTINGENCES<br></strong></div></th>
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   <font style="font-family: times new roman,times; font-size: small; text-decoration: underline;">Patent Acquisition Obligations</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>As of July 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 $3,570,000, and which amount will be reduced by royalties paid during the period. The payment due in November 2017 is payable at the option of the Company in cash or common stock.</font>
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   <font style="font-family: times new roman,times; font-size: small; text-decoration: underline;">Litigation Matters</font>
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   <font>On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 2). </font>
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   <font>Other than lawsuits 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;</font>
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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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 460<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 8<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=51674963&amp;loc=d3e12565-110249<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 450<br><br><br><br> -SubTopic 20<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 4<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.25)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 440<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6394976&amp;loc=d3e25287-109308<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735140244928">
<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">9 Months Ended</th>
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<tr><th class="th"><div>Jul. 31, 2015</div></th></tr>
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<td class="text">&#160;<span></span>
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   <font>Accounts payable and accrued expense consist of the following as of:</font>
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      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="2" valign="bottom" width="13%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">July 31,</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="2" valign="bottom" width="13%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">October 31,</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">2014</font></p></td>
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      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
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      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accounts payable</font></p></td>
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      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Payroll and related expenses</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">372,753 </font></p></td>
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      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accrued litigation expense, consulting and&nbsp; other professional fees</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">7,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">320,493 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accrued other</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">4,438 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">16,001 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="72%"><p style="margin: 0in 0in 0pt; display: none; line-height: normal; text-align: left;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">436,126 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="11%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,249,426 </font></p></td>
     </tr>

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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.19(a),20,24)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735133752064">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 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_FairValueDisclosuresAbstract', window );"><strong>Fair Value Disclosures [Abstract]</strong></a></td>
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    <font style="font-family: times new roman,times; font-size: small;">4.</font>
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    <font style="text-decoration: underline; font-family: times new roman,times; font-size: small;">FAIR VALUE MEASUREMENTS</font>
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  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>ASC 820 &#x201c;Fair Value Measurements and Disclosures&#x201d; (&#x201c;ASC 820&#x201d;) 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, 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.</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font>Financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font>Level 1 - Financial assets and liabilities 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.</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font>Level 2 - Financial assets and liabilities 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;</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font>Level 3 &#x2013; Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management&#x2019;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. We do not currently have any Level 3 financial assets.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of July 31, 2015: </font>
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   <table style="width: 550pt;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Money market funds &#x2013; Cash&nbsp; equivalents</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,571,191 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,571,191 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Certificates of deposit - Short term investments</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,400,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,400,000 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total financial assets</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,571,191 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,400,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">5,971,191 </font></p></td>
     </tr>

   </table>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <a name="FIS_UNIDENTIFIED_TABLE_18"></a>
   <a name="FIS_UNIDENTIFIED_TABLE_19"></a>
   <font>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2014:</font>
  </div><br/><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Money market funds &#x2013; Cash&nbsp; equivalents</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">155,964 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">155,964 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Certificates of deposit -Short term investments</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,500,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,500,000 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total financial assets</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">155,964 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,500,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,655,964 </font></p></td>
     </tr>

   </table>
  </div><br/><div style="text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of July 31, 2015:</font>
  </div><br/><div align="left">
   <div align="center">
    <table style="width: 550pt;" cellspacing="0" cellpadding="0">

      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Patent acquisition obligation</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$&nbsp;</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$ </font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
      </tr>
      <tr style="height: 15.25pt;">
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,000</font></p></td>
      </tr>

    </table>
   </div>
  </div><br/><div style="text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of October 31, 2014:</font>
  </div><br/><div align="left">
   <div align="center">
    <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Patent acquisition obligation</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$&nbsp;</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$&nbsp;</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
      </tr>
      <tr style="height: 15.25pt;">
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
      </tr>

    </table>
   </div>
  </div><br/><div style="text-align: justify; text-indent: 40.5pt; font-family: Times New Roman; font-size: 10.0pt;">
   <a name="eolPage31"></a>
   <a name="FORM10Q_HTM_PAGE_41"></a>
   <font>The following table sets forth a summary of the changes in the fair value of the Company&#x2019;s Level 3 financial liabilities that are measured at fair value on a recurring basis:</font>
  </div><br/><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="text-decoration: underline;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Patent acquisition obligation</font></font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Balance October 31, 2013</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Initial fair value</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,850,511 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accreted interest on patent obligation</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">385,770 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Balance October 31, 2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accreted interest on patent obligation</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">333,779 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Balance July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
     </tr>

   </table>
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   <font>Our non-financial assets that may be measured at fair value on a non-recurring basis include our patents and 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 accounts receivable, accounts payable and accrued liabilities approximates their individual carrying amounts due to the short term nature of these measurements.&nbsp; These assets and liabilities were not presented in the preceding table.</font>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 30<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14172-108612<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 28<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6957238&amp;loc=d3e14064-108612<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 21<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13537-108611<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 16<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13504-108611<br><br><br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 825<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 10<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=49121117&amp;loc=d3e13433-108611<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735122981296">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INVESTMENTS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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    <font>5.</font>
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   <font>At July 31, 2015 and October 31, 2014, we had certificates of deposit of $2,400,000 and $2,500,000, respectively, which were classified as short-term investments and reported at fair value. </font>
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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><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Article 6<br><br><br><br> -Section 10<br><br><br><br> -Paragraph (c)<br><br><br><br> -Subparagraph (1)<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735125541568">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NET LOSS PER SHARE OF COMMON STOCK<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Jul. 31, 2015</div></th></tr>
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   <font>In accordance with ASC 260, &#x201c;Earnings Per Share&#x201d;, basic net income (loss) per common share (&#x201c;Basic EPS&#x201d;) is computed by dividing net income (loss) by the weighted average number of common shares outstanding. Diluted net income (loss) per common share (&#x201c;Diluted EPS&#x201d;) is computed by dividing net income (loss) by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding. The treasury stock method reduces the dilutive effect of potentially dilutive securities as it assumes that any cash proceeds (from the issuance of potentially dilutive securities) are used to buy back shares at the average share price during the period.</font>
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   <font>Dilutive EPS for the three months ended July 31, 2014 excluded stock options to purchase 357,920 shares and warrants to purchase 715,379 shares because their effect would be antidilutive. The following is a reconciliation between basic weighted average common shares outstanding and dilutive weighted average common shares outstanding for the three months ended July 31, 2014:</font>
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">For the Three</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Months Ended</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">July 31, 2014</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Basic weighted average common shares outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">8,930,070</font></p></td>
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Effect of convertible debentures</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 739,958</font></p></td>
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Effect of warrants</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71,822</font></p></td>
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Effect of stock options</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">892,050</font></p></td>
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      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="77%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Dilutive weighted average common shares outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="23%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10,633,900</font></p></td>
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   <font>Diluted EPS for the nine and three months ended July 31, 2015 and the nine months ended July 31, 2014&nbsp;are the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. For this reason, excluded from the calculation of Diluted EPS for the nine and three months ended July 31, 2015 were stock options to purchase 2,724,072 shares, warrants to purchase 1,028,932 shares and preferred stock convertible into 739,958 shares and for the nine months ended July 31, 2014 were stock options to purchase 2,975,951 shares, warrants to purchase 1,036,932 shares and debentures convertible into 739,958 shares.&nbsp;</font>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735125651872">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities measured at fair value - USD ($)<br></strong></div></th>
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<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735131364528">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Jul. 31, 2015</div></th></tr>
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   <table style="width: 550pt;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Money market funds &#x2013; Cash&nbsp; equivalents</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,571,191 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,571,191 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Certificates of deposit - Short term investments</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,400,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,400,000 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total financial assets</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,571,191 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,400,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">5,971,191 </font></p></td>
     </tr>

   </table>
  </div><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Money market funds &#x2013; Cash&nbsp; equivalents</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">155,964 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">155,964 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Certificates of deposit -Short term investments</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,500,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,500,000 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total financial assets</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">155,964 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,500,000 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,655,964 </font></p></td>
     </tr>

   </table>
  </div><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]</a></td>
<td class="text"><div align="left">
   <div align="center">
    <table style="width: 550pt;" cellspacing="0" cellpadding="0">

      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Patent acquisition obligation</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$&nbsp;</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$ </font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
      </tr>
      <tr style="height: 15.25pt;">
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,000</font></p></td>
      </tr>

    </table>
   </div>
  </div><div align="left">
   <div align="center">
    <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 1</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 2</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Level 3</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="2" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Total</font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Patent acquisition obligation</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$&nbsp;</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$&nbsp;</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
      </tr>
      <tr style="height: 15.25pt;">
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: black; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="10%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281</font></p></td>
      </tr>

    </table>
   </div>
  </div><span></span>
</td>
</tr>
<tr 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_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</a></td>
<td class="text"><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="text-decoration: underline;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Patent acquisition obligation</font></font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Balance October 31, 2013</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">-</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Initial fair value</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2,850,511 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accreted interest on patent obligation</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">385,770 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Balance October 31, 2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,236,281 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Accreted interest on patent obligation</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid; background-color: #cceeff;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">333,779 </font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="top" width="80%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Balance July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="top" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="top" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,570,060</font></p></td>
     </tr>

   </table>
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</td>
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</table>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a),(b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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).  Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19190-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a),(b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock</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>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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 3<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19279-110258<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 820<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br><br><br><br></p></div>
<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 style="white-space:nowrap;">us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735120911264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Feb. 05, 2015</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Oct. 31, 2014</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Allocated Share-based Compensation Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 780,591<span></span>
</td>
<td class="nump">$ 469,481<span></span>
</td>
<td class="nump">$ 2,338,299<span></span>
</td>
<td class="nump">$ 2,346,587<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_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="nump">$ 34,335<span></span>
</td>
<td class="nump">51,225<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=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>
<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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr 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">10 years<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_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>
<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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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 );">Allocated Share-based Compensation Expense</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">445,000<span></span>
</td>
<td class="nump">573,000<span></span>
</td>
<td class="nump">$ 1,671,000<span></span>
</td>
<td class="nump">1,562,000<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_AmortizationOfCompensationCosts', window );">Amortization of Compensation Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">408,000<span></span>
</td>
<td class="nump">496,000<span></span>
</td>
<td class="nump">1,587,000<span></span>
</td>
<td class="nump">1,089,000<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">644,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 644,000<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<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_StockOptionsGrantedToConsultantMember', window );">Stock Options Granted To 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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</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_AmortizationOfCompensationCosts', window );">Amortization of Compensation Costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(107,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">736,000<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">221,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 221,000<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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1', window );">Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">6 months<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</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">335,000<span></span>
</td>
<td class="num">(103,000)<span></span>
</td>
<td class="nump">$ 668,000<span></span>
</td>
<td class="nump">784,000<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_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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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 );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (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="nump">13,334<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 (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="nump">11,600<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] | 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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</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_ConsultationFeesRelatedToOptions', window );">Consultation Fees Related to Options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40,000<span></span>
</td>
<td class="nump">$ 6,000<span></span>
</td>
<td class="nump">$ 46,000<span></span>
</td>
<td class="nump">$ 41,000<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_StockIssuedDuringPeriodSharesIssuedForServices', window );">Stock Issued During Period, Shares, Issued for Services (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10,000<span></span>
</td>
<td class="nump">800<span></span>
</td>
<td class="nump">11,600<span></span>
</td>
<td class="nump">5,200<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_A2010SharePlanMember', 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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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 );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (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="nump">13,334<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 (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">532,271<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">532,271<span></span>
</td>
<td class="text">&#160;<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 );">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">$ 3.32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3.32<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.75<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_PlanNameAxis=itus_A2010SharePlanMember', window );">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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr 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_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward', window );">Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (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="nump">60,400<span></span>
</td>
<td class="nump">520,400<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased', window );">Share-based Compensation Arrangement by Share-based Payment Award, Per Share Weighted Average Price of Shares Purchased (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.91<span></span>
</td>
<td class="nump">$ 5.50<span></span>
</td>
<td class="nump">$ 2.91<span></span>
</td>
<td class="nump">$ 5.50<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_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (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="nump">13,334<span></span>
</td>
<td class="nump">13,800<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_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="nump">$ 34,000<span></span>
</td>
<td class="nump">$ 51,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant', window );">Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">982,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">982,955<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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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 (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,780,000<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_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">$ 2.69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.69<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 5.50<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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward', window );">Share-based Compensation Arrangement by Share-based Payment Award, Shares Purchased for Award (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="nump">1,780,000<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares)</a></td>
<td class="nump">2,184,126<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></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="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>
</tr>
<tr 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="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>
</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_AwardDateAxis=itus_OptionsGrantedWith1YearVestingPeriodMember', window );">Options Granted with 1 Year Vesting Period [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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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">10 years<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting 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">1 year<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_AwardDateAxis=itus_OptionsGrantedWith36MonthsOfVestingPeriodMember', window );">Options Granted with 36 Months Of Vesting Period [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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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">10 years<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting 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">36 months<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_AwardDateAxis=itus_OptionsGrantedWith5YearsTermMember', window );">Options Granted with 5 Years Term [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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<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">5 years<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_AwardDateAxis=itus_OptionsGrantedWith10YearsTermMember', window );">Options Granted with 10 Years Term [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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr 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">10 years<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_RangeAxis=us-gaap_MinimumMember', window );">Minimum [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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting 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">1 year<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_RangeAxis=us-gaap_MaximumMember', window );">Maximum [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>
</tr>
<tr 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_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (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>
</tr>
<tr 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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting 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">3 years<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_AmortizationOfCompensationCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 compensation expense related to issuance of stock 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_AmortizationOfCompensationCosts</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_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_STOCKBASEDCOMPENSATIONDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_STOCKBASEDCOMPENSATIONDetailsLineItems</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 14.F)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br> -Section F<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
</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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1</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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 options awarded to employees as compensation.</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_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (j)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 14<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3255-108585<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Financing Activities<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 230<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 45<br><br><br><br> -Paragraph 28<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)-(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 of per share prices paid for shares purchased on the open market for issuance to employees 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 purchased on the open market during the period for issuance to employees 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (a)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward</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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (a)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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_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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 505<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.3-04)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)(iv)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 210<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SX 210.5-02.28,29)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br><br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Regulation S-X (SX)<br><br><br><br> -Number 210<br><br><br><br> -Section 02<br><br><br><br> -Paragraph 29, 30<br><br><br><br> -Article 5<br><br><br><br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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_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_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_RelatedPartyTransactionAxis=itus_StockOptionsGrantedToConsultantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_StockOptionsGrantedToConsultantMember</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>
</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">
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735310024928">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INCOME TAXES (Details)<br></strong></div></th>
<th class="th">
<div>Dec. 29, 2014 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LitigationSettlementAmount', window );">Litigation Settlement, Amount</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
</tr>
</table>
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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>Amount of judgment or settlement awarded to (against) the entity in respect of litigation.</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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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735123460608">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
</tr>
<tr class="re">
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<td class="nump">$ 780,591<span></span>
</td>
<td class="nump">$ 469,481<span></span>
</td>
<td class="nump">$ 2,338,299<span></span>
</td>
<td class="nump">$ 2,346,587<span></span>
</td>
</tr>
</table>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 14.F)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (b)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (h)(1)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br> -Section F<br><br><br><br></p></div>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735136604448">
<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">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 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_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</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_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock', window );">Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]</a></td>
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    <font>1.</font>
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    <font style="text-decoration: underline;">BUSINESS&nbsp;AND&nbsp;FUNDING</font>
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  </div><br/><div style="margin-bottom: 12.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Description of Business</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>As used herein, &#x201c;we,&#x201d; &#x201c;us,&#x201d; &#x201c;our,&#x201d; the &#x201c;Company&#x201d; or &#x201c;ITUS&#x201d; means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;The primary operations of the Company involve the development, acquisition and licensing of emerging technologies.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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 these activities, we may make investments in companies with emerging technologies, acquire companies with emerging technologies, acquire or license emerging technologies for development within our subsidiary companies, and create and capitalize subsidiary companies for the purpose of developing and commercializing technologies that we create. While we expect to continue to generate revenue from licensing, we may also derive revenue from products and services sold and provided by companies in which we make investments, and technologies that we acquire, develop or create. </font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The Company currently owns, controls, or is developing technologies in the primary areas of: thin-film displays, encrypted communications, advanced materials applications, and cancer diagnostics. In June 2015, we formed Anixa Diagnostics Corporation, a wholly owned subsidiary of ITUS that is developing non-invasive, cancer screening tests. We are continuing our licensing programs in connection with our patented encrypted communications, and advanced materials applications technologies. In addition we have resumed our Nano field emission display development program. The Company is looking to invest its resources in other emerging technology areas. </font>
  </div><br/><div style="font-size: 10.0pt; font-family: Times New Roman;">
   <font style="font-family: times new roman,times; font-size: small; text-decoration: underline;">Funding and Management&#x2019;s Plans</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>During the nine months ended July 31, 2015, cash generated&nbsp;from operating activities was approximately $2,165,000. Net cash provided by investing activities was approximately $45,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,650,000 and disbursement of $2,550,000 for the purchase&nbsp;of certificates of deposit and approximately $55,000 for the purchase of property and equipment.&nbsp; Cash used in financing activities was approximately $411,000, which included approximately $445,000 for the repurchase of 92,232 shares of our common stock, including 60,232 shares of common stock purchased in open market transactions at a cost of approximately $245,000, and cancellation warrants to purchase 16,000 shares&nbsp;of our common stock, offset by the proceeds from exercise of stock options of approximately $34,000. As a result, our cash, cash equivalents, and short-term investments at July 31, 2015 increased by approximately $1,700,000 to approximately $7,561,000 from approximately $5,861,000 at the end of fiscal year 2014.</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>Based on currently available information as of August 18, 2015, we believe that our existing cash, cash equivalents, short-term investments&nbsp;and expected cash flows from licensing and other potential sources of 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.&nbsp; If current cash on hand, cash equivalents, short term investments&nbsp;and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements or if we elect to purchase assets or a business for cash, 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.&nbsp; 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, 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>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Reverse Stock Split</font>
  </div><br/><div style="text-align: justify; text-indent: 40.5pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>On June 26, 2015, we effected a 1-for-25 reverse stock split (the &#x201c;Stock Split&#x201d;) of our issued common stock and preferred stock. Each shareholders&#x2019; percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. All applicable share data, per share amounts and related information in the condensed consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the Stock Split. 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>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Basis of Presentation</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>The accompanying condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, certain information and footnotes required by generally accepted accounting principles in annual financial statements have been omitted or condensed. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended October 31, 2014, as reported by us in our Annual Report on Form 10-K filed with the Securities and Exchange Commission (&#x201c;SEC&#x201d;) on January 29, 2015. The October 31, 2014&nbsp;consolidated balance sheet data was derived from the audited financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July 31, 2015, and results of operations and cash flows for the interim periods represented. The results of operations for the three and nine months ended July 31, 2015 are not necessarily indicative of the results to be expected for the entire year.</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Revenue Recognition</font>&nbsp;
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Licensing</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <font>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 our operating subsidiaries.&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 our operating subsidiaries, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv)&nbsp;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, our operating subsidiaries 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 had been met.</font>
  </div><br/><div style="text-align: justify; font-family: Times New Roman; font-size: 10.0pt;">
   <font style="text-decoration: underline;">Intangible Assets</font>
  </div><br/><div style="text-align: justify; text-indent: 36.0pt; font-family: Times New Roman; font-size: 10.0pt;">
   <a name="_DV_M82"></a>
   <font>Our only identifiable intangible assets are patents and patent rights. We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. Patent acquisition costs capitalized during the nine months ended July 31, 2015 and 2014, was approximately $-0- and $3,036,000, respectively. We did not capitalize any patent acquisition costs during the three months ended July 31, 2015 and 2014. We recorded patent amortization expense of approximately $244,000 and $233,000 during the nine months ended July 31, 2015 and 2014, respectively, and approximately $81,000 and $81,000 during the three months ended July, 2015 and 2014, respectively.</font>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735134431712">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Fair Value Estimate Assumptions - $ / shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 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_FairValueEstimateAssumptionsAbstract', window );"><strong>Fair Value Estimate Assumptions [Abstract]</strong></a></td>
<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="nump">$ 3.09<span></span>
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<td class="nump">$ 6.25<span></span>
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<td class="nump">$ 2.40<span></span>
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<td class="nump">$ 5.50<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>
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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_SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1', window );">Expected life (years)</a></td>
<td class="text">5 years 9 months<span></span>
</td>
<td class="text">5 years 357 days<span></span>
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<td class="text">5 years 131 days<span></span>
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<td class="text">5 years 288 days<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate', window );">Expected volatility</a></td>
<td class="nump">117.80%<span></span>
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<td class="nump">115.10%<span></span>
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<td class="nump">114.80%<span></span>
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<td class="nump">115.40%<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate', window );">Risk-free interest rate</a></td>
<td class="nump">2.01%<span></span>
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<td class="nump">1.93%<span></span>
</td>
<td class="nump">1.66%<span></span>
</td>
<td class="nump">1.82%<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate', window );">Expected dividend yield</a></td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
</td>
<td class="nump">0.00%<span></span>
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<td class="nump">0.00%<span></span>
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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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(iii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
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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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(ii)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(iv)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (d)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
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<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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section S99<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (SAB TOPIC 14.D.2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)(i)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher SEC<br><br><br><br> -Name Staff Accounting Bulletin (SAB)<br><br><br><br> -Number Topic 14<br><br><br><br> -Section D<br><br><br><br> -Subsection 2<br><br><br><br></p></div>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NET LOSS PER SHARE OF COMMON STOCK (Details) - shares<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
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<tr>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2014</div></th>
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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">2,724,072<span></span>
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<td class="nump">2,975,951<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">1,028,932<span></span>
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<td class="nump">715,379<span></span>
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<td class="nump">1,028,932<span></span>
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<td class="nump">1,036,932<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_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_ConvertiblePreferredStockMember', window );">Convertible Preferred Stock [Member]</a></td>
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<td class="text">&#160;<span></span>
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<td class="nump">739,958<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>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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Antidilution<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br><br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Diluted Earnings Per Share<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br><br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Glossary Contingent Stock Agreement<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br><br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 260<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 1<br><br><br><br> -Subparagraph (c)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br><br><br></p></div>
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<td style="white-space:nowrap;">us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_WarrantMember</td>
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<span style="display: none;">v3.2.0.727</span><table class="report" border="0" cellspacing="2" id="idm139735140657008">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 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_itus_STOCKBASEDCOMPENSATIONTablesLineItems', window );"><strong>STOCK BASED COMPENSATION (Tables) [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_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock', window );">Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]</a></td>
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     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="3" valign="bottom" width="26%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">For the Nine Months</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Ended July 31,</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" colspan="3" valign="bottom" width="26%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">For the Three Months</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Ended July 31,</font></p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2014</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Weighted average fair value at grant date</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.40 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$5.50 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.09 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$6.25 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Valuation assumptions:</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Expected life (years)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.36</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.79</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.75</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">5.98</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Expected volatility</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">114.8%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">115.4%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">117.8%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">115.1%</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Risk-free interest rate</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.66%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.82%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2.01%</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.93%</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="46%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Expected dividend yield</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">0</font></p></td>
     </tr>

   </table>
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</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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><div align="center">
   <table style="width: 550pt;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">&nbsp;Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average Exercise</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Price Per Share</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="17%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Aggregate</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Intrinsic</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Value</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Shares</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding at October 31, 2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">493,991 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$18.00 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Forfeited</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">(82,191)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$15.57 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 15.25pt;">
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding and exercisable at July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">411,800 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$17.22 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">156,896 </font></p></td>
     </tr>

   </table>
  </div><table style="width: 550pt;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average Exercise</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Price Per Share</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="17%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Aggregate</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Intrinsic</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Value</font></p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Shares</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding at October 31, 2014</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">728,560 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$5.75 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Granted</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">60,400 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.91 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Exercised</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">(13,334)</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.58 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 14.5pt;">
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt 10pt; line-height: normal;"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Forfeited</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="12%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">(243,355)</font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$6.39 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
    </tr>
    <tr style="height: 15.25pt;">
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding&nbsp; at July 31, 2015</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double; background-color: #cceeff;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">532,271 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.32 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.25pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">986,700 </font></p></td>
    </tr>
    <tr style="height: 15.95pt;">
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="52%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Exercisable at July 31, 2015</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt; border-bottom-color: windowtext; border-bottom-width: 2.25pt; border-bottom-style: double;" valign="bottom" width="12%"><p style="margin: 0in 0.04in 0pt 0in; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">383,982 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.45 </font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
     <td style="padding: 0in 1.5pt; height: 15.95pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">652,231 </font></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_A2003SharePlanMember', window );">2003 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_STOCKBASEDCOMPENSATIONTablesLineItems', window );"><strong>STOCK BASED COMPENSATION (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"><div align="center">
   <div align="center">
    <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="4" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="20%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Range of</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Prices</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Outstanding</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp; $ 1.79 - $ 9.25</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">77,880</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.91</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">2.89 </font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$10.75 - $17.50</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">101,200</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.04</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">15.21 </font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">&nbsp;&nbsp; $18.50 - $23.00</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">192,720</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1.39</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">21.57 </font></p></td>
      </tr>
      <tr style="height: 14.5pt;">
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="38%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$29.25 </font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">40,000</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">2.06</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
       <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">29.25 </font></p></td>
      </tr>

    </table>
   </div>
  </div><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_A2010SharePlanMember', window );">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_STOCKBASEDCOMPENSATIONTablesLineItems', window );"><strong>STOCK BASED COMPENSATION (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"><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Exercisable</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Range of</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Prices</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Outstanding</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercisable</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.58 - $9.25</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">532,271</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">7.25</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.32 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">383,982</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">6.75</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$3.45 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;" align="center"><font style="font-size: 1pt; color: black; font-family: times new roman;">.</font></p></td>
     </tr>

   </table>
  </div><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="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONTablesLineItems', window );"><strong>STOCK BASED COMPENSATION (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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><div align="center">
   <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average Exercise</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Price Per Share</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" colspan="2" valign="bottom" width="18%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Aggregate</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Intrinsic</font><br /><font style="font-size: 10pt; font-family: times new roman;">Value</font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">Shares</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding at October 31, 2014</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,780,000</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$5.50 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Outstanding&nbsp; at July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,780,000</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,958,650 </font></p></td>
     </tr>
     <tr style="height: 14.5pt;">
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="47%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">Options Exercisable at July 31, 2015</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="15%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,689,179</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="font-size: 10pt; color: black; font-family: times new roman;">$</font></p></td>
      <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="16%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="font-size: 10pt; color: black; font-family: times new roman;">3,748,399 </font></p></td>
     </tr>

   </table>
  </div><span></span>
</td>
</tr>
<tr class="re">
<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"><div align="center">
   <div align="center">
     &nbsp;
   </div>
   <div align="center">
    <div align="center">
     <table style="width: 550pt; border-collapse: collapse;" cellspacing="0" cellpadding="0">

       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Outstanding</font></p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" colspan="3" valign="bottom" width="42%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Options Exercisable</font></p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="5" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Remaining</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Contractual Life</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">(in years)</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="3" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Weighted</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Average</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Price</font></p></td>
       </tr>
       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Range of</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercise Prices</font></p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Outstanding</font></p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: #000000; border-bottom-width: 1px; border-bottom-style: solid;" rowspan="2" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: #000000; font-family: times new roman;">Number</font></p><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; font-family: times new roman;">Exercisable</font></p></td>
       </tr>
       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt; border-bottom-color: windowtext; border-bottom-width: 1pt; border-bottom-style: solid;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
       </tr>
       <tr style="height: 15.25pt;">
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 15.25pt;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right">&nbsp;</p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.58-$5.50</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,780,000</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">7.01</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">1,689,179</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">7.01</font></p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="font-size: 10pt; color: black; font-family: times new roman;">$2.69 </font></p></td>
       </tr>
       <tr style="height: 14.5pt;">
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="2%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center">&nbsp;</p></td>
        <td style="padding: 0in 1.5pt; height: 14.5pt; background-color: #cceeff;" valign="bottom" width="14%"><p style="margin: 0in 0in 0pt; display: none; text-align: center; line-height: normal;" align="center"><font style="font-size: 1pt; color: black; font-family: times new roman;">.</font></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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (c)(1)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></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 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><br><br><br> -Publisher FASB<br><br><br><br> -Name Accounting Standards Codification<br><br><br><br> -Topic 718<br><br><br><br> -SubTopic 10<br><br><br><br> -Section 50<br><br><br><br> -Paragraph 2<br><br><br><br> -Subparagraph (f)(2)<br><br><br><br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br><br><br></p></div>
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