<SEC-DOCUMENT>0001513162-16-000719.txt : 20160219
<SEC-HEADER>0001513162-16-000719.hdr.sgml : 20160219
<ACCEPTANCE-DATETIME>20160219154351
ACCESSION NUMBER:		0001513162-16-000719
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		53
CONFORMED PERIOD OF REPORT:	20160131
FILED AS OF DATE:		20160219
DATE AS OF CHANGE:		20160219

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:		161441743

	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>FORM10-Q</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:14pt; MARGIN:0px" align=center><b>UNITED STATES</b></p> <p style="FONT-SIZE:14pt; MARGIN:0px" align=center><b>SECURITIES AND EXCHANGE COMMISSION</b></p> <p style="FONT-SIZE:14pt; MARGIN:0px" align=center>Washington, D.C. &nbsp;20549</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:14pt; MARGIN:0px" align=center><b>FORM 10-Q</b></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>OF THE SECURITIES EXCHANGE ACT OF 1934</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>For the quarterly period ended January 31, 2016</p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Commission file number 0-11254</p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:19pt; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center><b>ITUS Corporation</b></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>(Exact name of registrant as specified in its charter)</p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center> <table width=925 bordercolor=transparent style="WIDTH:695pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=21 style=HEIGHT:15.75pt> <td width=64 height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:48pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"><font roman new face=Times>&nbsp;</font></td> <td width=242 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:182pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center><font style=FONT-SIZE:12pt>Delaware</font></p></td> <td width=64 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:48pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=242 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:182pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=64 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:48pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=185 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:139pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center><font style=FONT-SIZE:12pt>11-2622630</font></p></td> <td width=64 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:48pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td></tr> <tr height=32 style=HEIGHT:24pt> <td height=32 style="BORDER-TOP:0px; HEIGHT:24pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=242 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:182pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center><font size=2><font style=FONT-SIZE:12pt>(State or other jurisdiction of incorporation or organization) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></font></p></td> <td width=64 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:48pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=242 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:182pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=185 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:139pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center><font size=2 style=FONT-SIZE:12pt>(I.R.S. Employer Identification No.)</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td></tr> <tr height=20 style=HEIGHT:15pt> <td height=20 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td></tr> <tr height=20 style=HEIGHT:15pt> <td height=20 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center><font style=FONT-SIZE:12pt>12100 Wilshire Boulevard, Suite 1275</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=242 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:182pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center><font style=FONT-SIZE:12pt>&nbsp;Los Angeles, CA</font></p></td> <td width=64 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:48pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td width=242 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:182pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center><font style=FONT-SIZE:12pt>&nbsp;90025</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td></tr> <tr height=20 style=HEIGHT:15pt> <td height=20 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center><font size=2 style=FONT-SIZE:12pt>(Address of principal executive offices) &nbsp;</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center><font size=2 style=FONT-SIZE:12pt>(Zip Code)</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <p align=center>&nbsp;</p></td></tr></table></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; BORDER-BOTTOM:#000000 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>(310) 484-5200</font></p> <p style="FONT-SIZE:9pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>(Registrant's telephone number, including area code)</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><br><font style=FONT-SIZE:12pt>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; </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yes <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u> No ___</font></p> <p style="CLEAR:left; MARGIN:0px" align=center><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>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).&nbsp;&nbsp;&nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Yes <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u>&nbsp; No ___</font></p> <p style="CLEAR:left; MARGIN:0px" align=center><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>large accelerated filer,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>accelerated filer<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>smaller reporting company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> in Rule 12b-2 of the Exchange Act.</font></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="MARGIN:0px; PADDING-RIGHT:7px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 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;Accelerated filer [ &nbsp;&nbsp;]</font></p> <p style="MARGIN:0px; PADDING-RIGHT:25px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Non-accelerated filer&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;&nbsp;&nbsp;Smaller reporting company [X]</font></p> <p style="CLEAR:left; MARGIN:0px" align=center><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).&nbsp;&nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Yes ____ No <u>&nbsp;&nbsp;X </u>&nbsp;</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt>On February 15, 2016, the registrant had outstanding 8,730,878 shares of Common Stock, par value $.01 per share, which is the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s only class of common stock.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font><font style=FONT-SIZE:12pt>&nbsp;</font></p><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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><font style=FONT-SIZE:12pt> <div align=center>&nbsp;</div> <div align=center>&nbsp;</div> <div align=center> <div align=center> <table width=750 bordercolor=transparent style="WIDTH:750pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=926 colspan=3 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:694.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><b><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>&nbsp;</font></b><a name=TOC><font size=+0><b><u><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>TABLE OF CONTENTS</font></u></b></font></a></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15pt> <td width=839 colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:629.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong><a href=#FI>PART I.&nbsp; FINANCIAL INFORMATION </a></strong></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#FS>Item 1.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#FS>Financial Statements. </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#BS>Condensed Consolidated Balance Sheets as of January 31, 2016 (Unaudited)&nbsp; and October 31, 2015 </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>3</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:20.25pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:20.25pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:20.25pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#OP><font style=FONT-SIZE:12pt>Condensed Consolidated Statements of Operations (Unaudited) for the three&nbsp; months ended January 31, 2016 and 2015</font></a><font style=FONT-SIZE:12pt> </font></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:20.25pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>4</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:20.25pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:20.25pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:20.25pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#STOCK>Condensed Consolidated Statement of Shareholders&#146; Equity (Unaudited) for the three months ended January 31, 2016 </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:20.25pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>5</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:22.5pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:22.5pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:22.5pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#CF><font style=FONT-SIZE:12pt>Condensed Consolidated Statements of Cash Flows (Unaudited) for the three months ended January 31, 2016 and 2015 </font></a><font style=FONT-SIZE:12pt>&nbsp;</font></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:22.5pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>6</font></p></td></tr> <tr style=HEIGHT:22.5pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:22.5pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:22.5pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:22.5pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#NOTES>Notes to Condensed Consolidated Financial Statements (Unaudited) </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>7 &#150; 17</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#MANAGEMENT>Item 2.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#MANAGEMENT>Management's Discussion and Analysis of Financial Condition and Results of Operations. </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>18 - 23</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href="#MARKET RISK">Item 3. </a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href="#MARKET RISK">Quantitative and Qualitative Disclosures About Market Risk. </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>23</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#CONTROL>Item 4. </a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#CONTROL>Controls and Procedures. </a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>23</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=839 colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:629.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong><a href=#OI>PART II.&nbsp; OTHER INFORMATION </a></strong></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#LEGAL>Item 1.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#LEGAL>&nbsp;Legal Proceedings.</a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>24</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#RISK>Item 1A.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><font style=FONT-SIZE:12pt>&nbsp;</font><a href=#RISK><font style=FONT-SIZE:12pt>Risk Factors.</font></a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>24</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#UNREGISTERED>Item 2.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><font style=FONT-SIZE:12pt>&nbsp;</font><a href=#UNREGISTERED><font style=FONT-SIZE:12pt>Unregistered Sales of Equity Securities and Use of Proceeds.</font></a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>24</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#SS>Item 3.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><font style=FONT-SIZE:12pt>&nbsp;</font><a href=#SS><font style=FONT-SIZE:12pt>Defaults Upon Senior Securities.</font></a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>24</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#MINE><font style=FONT-SIZE:12pt>Item 4</font></a><font style=FONT-SIZE:12pt>.</font></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><font style=FONT-SIZE:12pt>&nbsp;</font><a href=#MINE><font style=FONT-SIZE:12pt>Mine Safety Disclosures.</font></a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>24</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#OTHER>Item 5.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><font style=FONT-SIZE:12pt>&nbsp;</font><a href=#OTHER><font style=FONT-SIZE:12pt>Other Information.</font></a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>24 - 25</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#EX>Item 6.</a></font></p></td> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><a href=#EX>Exhibits.</a></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>25</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=73 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=766 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:574.45pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'><strong><a href=#sign><font style=FONT-SIZE:12pt>SIGNATURES</font></a><font style=FONT-SIZE:12pt>&nbsp;</font></strong><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font></p></td> <td width=87 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:65pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>26</font></p></td></tr></table></div></div> <p style="CLEAR:left; MARGIN:0px" align=center><font style=FONT-SIZE:12pt><br></font></p></font> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt>2<br></font></font></p><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:11pt><a href=#TOC><font style=FONT-SIZE:12pt>Table of Contents</font></a><br></font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><b><u><font style=FONT-SIZE:12pt><a name=FI>PART I. &nbsp;FINANCIAL INFORMATION</a></font></u></b></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:11pt; MARGIN:0px"><b><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt><a name=FS><font style=FONT-SIZE:12pt>Item 1. &nbsp;</font></a><u><a name=FS><font style=FONT-SIZE:12pt>Financial Statements</font></a><font style=FONT-SIZE:12pt>.</font></u></font></font></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center><u><font style=FONT-SIZE:12pt>ITUS CORPORATION AND SUBSIDIARIES</font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center><u><font style=FONT-SIZE:12pt><a name=BS>CONDENSED CONSOLIDATED BALANCE SHEETS</a></font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center>&nbsp;</p> <p style="MARGIN:0px; LINE-HEIGHT:9pt" align=left> <p style="MARGIN:0px; LINE-HEIGHT:9pt" align=left> <table width=650 bordercolor=transparent style="WIDTH:650pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=108 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:81pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>(Unaudited)</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=89 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:67pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>January 31,</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>October 31,</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><u><font size=2 style=FONT-SIZE:12pt>ASSETS</font></u></p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>2016</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>2015</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p>Current assets:</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p dir=ltr style=MARGIN-RIGHT:0px><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Cash and cash equivalents</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,980,826</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,369,219</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Short-term investments in certificates of deposit</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">2,150,000</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">2,400,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=MARGIN-LEFT:10pt><font style=FONT-SIZE:12pt>Prepaid expenses and other current assets&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">55,774</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">126,528</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Total current assets</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">6,186,600</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">6,895,747</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Patents, net of accumulated amortization of $721,069 and $639,744, respectively</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">2,315,042</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">2,396,367</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Property and equipment, net of accumulated depreciation of $17,465 and $13,617, respectively</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">145,620</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">43,456</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Total assets</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">8,647,262</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">9,335,570</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><u><font size=2 style=FONT-SIZE:12pt>LIABILITIES AND SHAREHOLDERS' EQUITY</font></u></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Current liabilities:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Accounts payable and accrued expenses</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">1,036,218</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">380,765</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=MARGIN-LEFT:10pt><font style=FONT-SIZE:12pt>Royalties and contingent legal fees payable&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">207,789</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">213,017</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Total current liabilities</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">1,244,007</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">593,782</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Patent acquisition obligation (Note 9)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,812,088</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,688,187</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Total liabilities</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">5,056,095</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,281,969</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Commitments and contingencies (Note 9)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Shareholders&#146; equity:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Preferred stock, par value $100 per share; 19,860 shares authorized; </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom /> <tr bgcolor=#cceeff> <td>&nbsp;&nbsp;&nbsp;no shares issued or outstanding</td> <td> <td> <p align=right>-</p></td> <td> <td> <td> <p align=right>-</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Series A convertible preferred stock, par value $100 per share; 140 shares </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /></tr> <tr> <td>&nbsp;&nbsp;&nbsp;issued and outstanding</td> <td> <td> <p align=right>14,000</p></td> <td> <td> <td> <p align=right>14,000</p></td></tr> <tr bgcolor=#cceeff> <td>&nbsp;&nbsp;&nbsp;Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,730,878</td> <td> <td> <td> <td> <td /> </tr><tr bgcolor=#cceeff> <td>&nbsp;&nbsp; and 8,724,878 shares issued and outstanding, respectively</td> <td> <td> <p align=right>87,309&nbsp; </p></td> <td> <td> <td> <p align=right>87,249&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Additional paid-in capital</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">151,231,712</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">151,101,117</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=MARGIN-LEFT:10pt><font style=FONT-SIZE:12pt>Accumulated deficit&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(147,741,854)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(146,148,765)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=MARGIN-LEFT:20pt><font style=FONT-SIZE:12pt>Total shareholders&#146; equity&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,591,167</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">5,053,601</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=MARGIN-LEFT:20pt><font style=FONT-SIZE:12pt>Total liabilities and shareholders&#146; equity&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">8,647,262</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">9,335,570</font></td></tr></table><br></p> <p align=center><font style=FONT-SIZE:12pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p></font> <p style="MARGIN:0px; LINE-HEIGHT:9pt">&nbsp;</p> <p style="MARGIN:0px; LINE-HEIGHT:9pt" align=center><font style=FONT-SIZE:12pt>3</font></p> <p style="MARGIN:0px; LINE-HEIGHT:9pt"><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p> <p style="BORDER-BOTTOM:#ffffff 1px solid; PADDING-BOTTOM:1px; MARGIN:0px" align=left><font style=FONT-SIZE:12pt><a href=#TOC><font style=FONT-SIZE:12pt>Table of Contents</font></a><br></p></font><font style=FONT-SIZE:12pt> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center><u><font style=FONT-SIZE:12pt>ITUS CORPORATION AND SUBSIDIARIES</font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:19.6pt 298.0pt 312.35pt 317.75pt 356.85pt 371.2pt 376.6pt 382.0pt 387.4pt 392.8pt 398.2pt 403.6pt 409.0pt 466.1pt 487.25pt 492.65pt 507.0pt 521.35pt 579.95pt 639.3pt 653.65pt 668.0pt 673.4pt 678.8pt 736.7pt 751.05pt 769.9pt" align=center><u><font style=FONT-SIZE:11pt><a name=OP><font style=FONT-SIZE:12pt>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</font></a><font style=FONT-SIZE:12pt> <br></font></font></u><u><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>(UNAUDITED)</font></u></font></p><font style=FONT-SIZE:12pt> <p style="PADDING-RIGHT:0px; MARGIN-RIGHT:0in"> <table width=835 bordercolor=transparent style="WIDTH:626pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=235 colspan=5 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:176pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>For the Three Months Ended</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=5 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>January 31,</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>2016</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>2015</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Revenue:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Revenue from licensing activities</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">135,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Settlement with AU Optronics Corporation</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">9,000,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Total revenue</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">9,135,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Operating costs and expenses:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Inventor royalties and contingent legal fees</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">88,877</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Litigation and licensing expense</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">59,641</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,334,702</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Amortization of patents</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">81,324</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">81,324</font></td></tr> <tr> <td height=1 style=HEIGHT:1px>&nbsp;&nbsp; Marketing, general and administrative expenses (including non-cash stock option</td> <td> <td> <td> <td> <td /> </tr><tr> <td> <p dir=ltr style=MARGIN-RIGHT:0px><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">compensation expenses of $112,495 and $491,779, respectively)</font></p></td> <td style="BORDER-BOTTOM:#000000 1px solid"> <td style="BORDER-BOTTOM:#000000 1px solid" valign=bottom> <p align=right>1,331,474 </p></td> <td> <td style="BORDER-BOTTOM:#000000 1px solid"> <td style="BORDER-BOTTOM:#000000 1px solid"> <p align=right>1,773,368</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Total operating costs and expenses</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">1,472,439</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">5,278,271</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>(Loss) income from operations</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(1,472,439)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,856,729</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Interest expense (Note 9)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(123,901)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(109,186)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2><font style=FONT-SIZE:12pt>Interest income&nbsp;&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,251</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,677</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>(Loss) income before income taxes</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(1,593,089)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,752,220</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Provision for income taxes</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Net (loss) income</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(1,593,089)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,752,220</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Net (loss) income per common share:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2><font style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Basic&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(0.18)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">0.43</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Diluted</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(0.18)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">0.41</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Weighted average common shares outstanding:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2><font style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Basic&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">8,727,035</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">8,788,375</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Diluted</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">8,727,035</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">9,251,535</font></td></tr></table></p> <p align=center><font style=FONT-SIZE:12pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p style="FONT-SIZE:10.5pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt><br></font></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>4</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></p><font style=FONT-SIZE:12pt> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center><u><font style=FONT-SIZE:12pt>ITUS CORPORATION AND SUBSIDIARIES</font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt" align=center><u><font style=FONT-SIZE:12pt><a name=STOCK>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS&#146; EQUITY</a></font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt" align=center><u><font style=FONT-SIZE:12pt>FOR THE THREE MONTHS ENDED JANUARY 31, 2016 <br>(UNAUDITED)</font></u></p> <p style=MARGIN:0px><br></font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt> <table width=750 bordercolor=transparent style="WIDTH:750pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=355 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:266pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=188 colspan=4 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:140pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Series A Convertible</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center>&nbsp;</p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center>&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=4 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Preferred Stock</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=4 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Common Stock</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center>&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Shares</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=FONT-SIZE:12pt>&nbsp;&nbsp; </font></td> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Par Value</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Shares</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Par Value</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt><font size=2 style=FONT-SIZE:12pt>Additional Paid-in Capital</font></p></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Accumulated Deficit</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Total Shareholders' Equity</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Balance, October 31, 2015</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>140 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp; </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>14,000 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>8,724,878 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>87,249 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>151,101,117 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(146,148,765)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">5,053,601</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Stock option compensation to employees and directors</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>112,495 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">112,495</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Common stock issued to consultants&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>2,000 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>20 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>6,340 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">6,360</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Common stock issued to acquire patents</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>4,000 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>40 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>11,760 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">11,800</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Net loss</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp; </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(1,593,089)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(1,593,089)</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Balance, January 31, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>140 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>14,000 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>8,730,878 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>87,309 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>151,231,712 </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(147,741,854)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,591,167</font></td></tr></table><br></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 6pt" align=center><font style='FONT-FAMILY:"Times New Roman","serif"'><font size=2 style=FONT-SIZE:12pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></font></p></font> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt>5</font></p><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><a href=#TOC><font style=FONT-SIZE:12pt>Table of Contents</font></a><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:24.0pt 42.0pt 45.0pt .75in 63.0pt 78.0pt" align=center><u><font style=FONT-SIZE:12pt>ITUS CORPORATION AND SUBSIDIARIES</font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:19.6pt 33.2pt 47.55pt 1.35in 146.85pt 260.2pt 274.55pt 288.9pt 349.0pt 363.35pt 388.2pt 402.55pt 416.9pt 474.0pt 488.35pt 515.45pt 521.55pt 536.65pt 551.0pt 565.35pt 624.7pt 630.1pt 643.7pt 664.05pt 713.7pt" align=center><u><font style=FONT-SIZE:11pt><a name=CF><font style=FONT-SIZE:12pt>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</font></a><font style=FONT-SIZE:12pt> <br>(UNAUDITED)</font></font></u></p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:19.6pt 33.2pt 47.55pt 1.35in 146.85pt 260.2pt 274.55pt 288.9pt 349.0pt 363.35pt 388.2pt 402.55pt 416.9pt 474.0pt 488.35pt 515.45pt 521.55pt 536.65pt 551.0pt 565.35pt 624.7pt 630.1pt 643.7pt 664.05pt 713.7pt" align=center>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; tab-stops:19.6pt 33.2pt 47.55pt 1.35in 146.85pt 260.2pt 274.55pt 288.9pt 349.0pt 363.35pt 388.2pt 402.55pt 416.9pt 474.0pt 488.35pt 515.45pt 521.55pt 536.65pt 551.0pt 565.35pt 624.7pt 630.1pt 643.7pt 664.05pt 713.7pt" align=center><font style=FONT-SIZE:11pt> <table width=650 bordercolor=transparent style="WIDTH:650pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=235 colspan=5 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:176pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>For the Three Months Ended</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=5 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font style=FONT-SIZE:12pt><font size=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font size=2>January 31,</font></font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>2016</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:windowtext 0.5pt solid; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>2015</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Reconciliation of net (loss) income to net cash (used in) provided by operating activities:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Net (loss) income</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(1,593,089)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,752,220</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Stock option compensation to employees, directors and consultants</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">112,495</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">491,779</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Common stock issued to consultants&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">6,360</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Depreciation of property and equipment</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,849</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">1,021</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Amortization of patents</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">81,324</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">81,324</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Accretion of interest on patent acquisition obligations to interest expense</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">123,901</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">109,186</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Common stock issued to acquire patent license</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">11,800</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Other</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">6,635</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Change in operating assets and liabilities:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Accounts receivable</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">-</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">355,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Prepaid expenses and other current assets</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">70,754</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(5,922)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Accounts payable and accrued expenses</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">655,453</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">152,219</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:20pt">Royalties and contingent legal fees payable</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(5,228)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(294,368)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:30pt">Net cash (used in) provided by operating activities</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(532,381)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,653,094</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Cash flows from investing activities:</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Disbursements to acquire short-term investments in certificates of deposit</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(250,000)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(650,000)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Proceeds from maturities of short-term investments in certificates of deposit</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">500,000</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">500,000</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Payments for purchases of property and equipment</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(106,012)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(54,776)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:30pt">Net cash provided by (used in) investing activities</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">143,988</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(204,776)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Net (decrease) increase in cash and cash equivalents&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style=FONT-SIZE:12pt>(388,393)</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,448,318</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" align=right valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Cash and cash equivalents at beginning of period</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">4,369,219</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,361,246</font></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Cash and cash equivalents at end of period</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">3,980,826</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" align=right valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-RIGHT:0.04in">7,809,564</font></td></tr></table></font></p> <p style=MARGIN:0px></font>&nbsp;</p> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 12pt; tab-stops:0in" align=center><font style=FONT-SIZE:10.5pt><font style=FONT-SIZE:12pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>6</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>ITUS CORPORATION AND SUBSIDIARIES</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><a name=NOTES><font style=FONT-SIZE:12pt>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</font></a></p> <p style=MARGIN:0px align=center><u><font style=FONT-SIZE:12pt>(UNAUDITED)</font></u></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px"><font style=FONT-SIZE:12pt>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>BUSINESS&nbsp;AND&nbsp;FUNDING</u></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px"><u><font style=FONT-SIZE:12pt>Description of Business</font></u></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>As used herein, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>we,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>us,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>our,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> or <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ITUS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s assets, seek reparations from a previous joint development partner, change the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s name and ticker symbol, relocate the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s stock was accepted for listing and began trading on the NASDAQ Capital Market. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &nbsp;with The Wistar Institute, the nation<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &nbsp;&nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies which was discontinued in February 2016, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &nbsp;We do not expect these activities to be a significant part of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ongoing operations.</font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.<br></font><font style=FONT-SIZE:12pt><br></p></font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>7</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>AUO Lawsuit and Settlement</font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style="FONT-SIZE:12pt; BACKGROUND-COLOR:#ffffff">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On December 29, 2014, the Company and AU Optronics Corporation (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) entered into a Settlement Agreement, and a Patent Assignment Agreement, resolving a lawsuit filed by the Company against AUO in connection with the joint development and commercialization of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s patented ePaper&#174; Electrophoretic Display, and Nano Field Emission Display 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 Securities and Exchange Commission (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>SEC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) December 23, 2015.</font></p> <p style="CLEAR:left; MARGIN:0px"><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><u><font style=FONT-SIZE:12pt>Funding and Management<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Plans</font></u></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>During the three months ended January 31, 2016, cash used in operating activities was approximately $532,000. &nbsp;Net cash provided by investing activities was approximately $144,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $500,000, which was offset by the purchase&nbsp;of certificates of deposit totaling $250,000 and the purchase of property and equipment of approximately $106,000. &nbsp;As a result, our cash, cash equivalents and short-term investments at January 31, 2016 decreased by approximately $638,000 to approximately $6,131,000 from approximately $6,769,000 at the end of fiscal year 2015.</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style="FONT-SIZE:12pt; BACKGROUND-COLOR:#ffffff">Based on currently available information as of February 19, 2016, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. &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, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style="FONT-SIZE:12pt; BACKGROUND-COLOR:#ffffff"><u>Reverse Stock Split</u></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px" align=justify><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt><font style=BACKGROUND-COLOR:#ffffff>On June 26, 2015, we effected a 1-for-25 reverse stock split (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Stock Split<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) of our issued common stock and preferred stock. Each shareholders<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font> percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. 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.</font><br></font></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>8</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px align=justify><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p><font style=FONT-SIZE:12pt>&nbsp;</font> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>Basis of Presentation</font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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, 2015, as reported by us in our Annual Report on Form 10-K filed with the SEC on December 23, 2015. &nbsp;The October 31, 2015 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 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>US GAAP<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &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 January 31, 2016, and results of operations and cash flows for the interim periods represented. &nbsp;The results of operations for the three months ended January 31, 2016 are not necessarily indicative of the results to be expected for the entire year.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt><u>Revenue Recognition</u> </font></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><u><font style=FONT-SIZE:12pt>Patent Licensing</font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&nbsp;&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we had no further obligations.&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>Intangible Assets</font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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;We did not capitalize any patent acquisition costs during the three months ended January 31, 2016 and 2015. We recorded patent amortization expense of approximately $81,000 and $81,000 during the three months ended January 31, 2016 and 2015, respectively.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>9</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>STOCK BASED COMPENSATION</u></font></p> <p style="CLEAR:left; MARGIN:0px" align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>Stock Option Compensation Expense </font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The compensation cost for stock options granted to employees and directors is measured at the grant date, based on the fair value of the award using the Black-Scholes pricing model, and is recognized as an expense, on a straight-line basis, over the requisite service period (the vesting period of the stock option) which is one to ten years. We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $112,000 and $543,000 during the three months ended January 31, 2016 and 2015, respectively. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The compensation cost for stock options granted to consultants is measured based on fair value at each reporting period, using the Black-Scholes pricing model, and is recognized as an expense over the requisite service period of the grant. We recorded stock-based compensation expense, related to stock options granted to consultants, of approximately $-0- and $(51,000) during the three months ended January 31, 2016 and 2015, respectively. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>Stock Option Activity </font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>We did not grant any stock options during the three months ended January 31, 2016. During the three months ended January 31, 2015, we granted options to purchase 52,000 shares of common stock at an exercise price of $2.80 per share pursuant to the ITUS Corporation 2010 Share Incentive Plan (the "2010 Share Plan<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;&nbsp;During the three months ended January 31, 2016 and 2015, no stock options to purchase shares of common stock were exercised.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><u><font style=FONT-SIZE:12pt>Stock&nbsp;Option&nbsp;Plans</font></u></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>As of January 31, 2016, 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.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>10</font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><a href=#TOC>Table of Contents</a></font><font style=FONT-SIZE:12pt><br></p></font><font style=FONT-SIZE:12pt>&nbsp; </font> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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, directors 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. &nbsp;Information regarding the 2003 Share Plan for the three months ended January 31, 2016 is as follows:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=460 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:345pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=110 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:83pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font style=FONT-SIZE:12pt><font size=2>&nbsp;</font><font size=2>Weighted</font></font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td width=129 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:97pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Aggregate</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average Exercise</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Intrinsic&nbsp;</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Shares</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Price Per Share</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Value</font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Options Outstanding at October 31, 2015</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>366,200</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$&nbsp; 17.86 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=19 style=HEIGHT:14.25pt> <td height=19 style="BORDER-TOP:0px; HEIGHT:14.25pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=FONT-SIZE:12pt><font size=2>Options Outstanding and exercisable at&nbsp; </font><font size=2>January 31, 2016</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>366,200</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$&nbsp; 17.86 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>20,237 </font></p></td></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <div align=center> <div align=center>&nbsp;</div></div> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of January 31, 2016: </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px> <table width=450 bordercolor=transparent style="WIDTH:450pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=285 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Number</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted Average</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Outstanding</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Remaining</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Range of</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>and</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Contractual Life</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Prices</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercisable</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>(in years)</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Price</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font style=FONT-SIZE:12pt><font size=2>$&nbsp; </font><font size=2>1.79 - $</font><font size=2>&nbsp; </font><font size=2>7.75</font></font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>73,880</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>1.50 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2.91 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$13.50 - $17.50</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>59,600</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>1.08 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>16.75 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$18.75 - $23.00</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>192,720</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>.88 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>21.57 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$29.25 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>40,000</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>1.56 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>29.25 </font></p></td></tr></table><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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, directors and consultants. &nbsp;As of January 31, 2016, the 2010 Share Plan had 988,955 shares available for future grants. &nbsp;Information regarding the 2010 Share Plan for the three months ended January 31, 2016 is as follows: </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=320 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:240pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=110 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:83pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td width=164 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:123pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Aggregate</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average Exercise</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Intrinsic</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Shares</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Price Per Share</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Value</font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Options Outstanding at October 31, 2015</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>526,272</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$ 3.33 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=19 style=HEIGHT:14.25pt> <td height=19 style="BORDER-TOP:0px; HEIGHT:14.25pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=FONT-SIZE:12pt><font size=2>Options Outstanding&nbsp; </font><font size=2>at January 31, 2016</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>526,272</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$ 3.33 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>149,942 </font></p></td></tr> <tr height=19 style=HEIGHT:14.25pt> <td height=19 style="BORDER-TOP:0px; HEIGHT:14.25pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Options Exercisable at January 31, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>447,318</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$ 3.33 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>124,197 </font></p></td></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=left>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=left><font style=FONT-SIZE:12pt>The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of January 31, 2016:</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=110 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:83pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=330 colspan=3 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:249pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Options Outstanding&nbsp;</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=365 colspan=3 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:275pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Options Exercisable</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Remaining</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Remaining</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Range of</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Number</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Contractual Life&nbsp;</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Number</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Contractual Life</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Prices</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Outstanding</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>(in years)</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Price</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercisable</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>(in years)</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Price</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$2.58 - $9.25</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>526,272</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>6.72</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$3.33 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>447,318</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>6.51</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$3.33 </font></p></td></tr></table></p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px align=center>&nbsp;</p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt>11</font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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 three months ended January 31, 2016 is as follows: </font></p> <div align=center> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=17 style=HEIGHT:12.75pt> <td width=390 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:293pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=110 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:83pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td width=129 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:97pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Aggregate</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average Exercise</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Intrinsic</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Shares</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Price Per Share</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Value</font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Options Outstanding at October 31, 2015</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>1,780,000</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$2.70 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td></tr> <tr height=19 style=HEIGHT:14.25pt> <td height=19 style="BORDER-TOP:0px; HEIGHT:14.25pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=FONT-SIZE:12pt><font size=2>Options Outstanding&nbsp; </font><font size=2>and exercisable at January 31, 2015</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>1,780,000</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$2.70 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;&nbsp;&nbsp; </font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>619,600 </font></p></td></tr></table></div> <div align=center>&nbsp;</div> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The following table summarizes information about stock options outstanding and exercisable that were not granted under the 2003 Share Plan or the 2010 Share Plan as of January 31, 2016:</font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify> <table width=450 bordercolor=transparent style="WIDTH:450pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=180 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:135pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=180 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:135pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Number</font></p></td> <td width=180 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:135pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted Average</font></p></td> <td width=180 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:135pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Outstanding</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Remaining</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Weighted</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Range of</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>and</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Contractual Life</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Average</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Prices</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercisable</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>(in years)</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Exercise Price</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>$2.58-$5.56</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>1,780,000</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>6.51</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$2.70 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>Stock Awards </font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>We account for stock awards granted to employees and consultants based on the grant date market price of the underlying common stock. &nbsp;During the three months ended January 31, 2016 and 2015, we issued 2,000 shares and 800 shares, respectively, of common stock to consultants for services rendered. &nbsp;We recorded consulting expense for the three months ended January 31, 2016 and 2015 of approximately $6,000 and $4,000, respectively, for the shares of common stock issued to consultants. &nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>FAIR VALUE MEASUREMENTS</u></font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>US GAAP defines fair value and establishes a framework for measuring fair value. &nbsp;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></p> <p style=MARGIN:0px>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>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></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>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></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>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></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>12</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>Level 3 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> 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<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. </font></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of January 31, 2016: </font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0px" align=justify> <table width=713 bordercolor=transparent style="WIDTH:532pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=280 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:210pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;</font></td> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 1</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 2</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 3</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Total</font></p></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font style=FONT-SIZE:12pt><font size=2>Money market funds &#150;&nbsp;&nbsp; </font><font size=2>Cash equivalents</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,402,588 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,402,588 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Certificates of deposit - Short-term investments</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,150,000 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,150,000 </font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Total financial assets</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,402,588 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,150,000 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>5,552,588 </font></p></td></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0px" align=justify> <table width=713 bordercolor=transparent style="WIDTH:532pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=280 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:210pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=75 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:56pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 1</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 2</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 3</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Total</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Money market funds &#150; Cash equivalents</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>467,967 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>467,967 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Certificates of deposit - Short term investments</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,400,000 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,400,000 </font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style="FONT-SIZE:12pt; MARGIN-LEFT:10pt">Total financial assets</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>467,967 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,400,000 </font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>2,867,967 </font></p></td></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style=MARGIN:0px>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><font style=FONT-SIZE:12pt>The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of January 31, 2016:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <div align=center>&nbsp;</div> <div align=center> <table width=713 bordercolor=transparent style="WIDTH:532pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=17 style=HEIGHT:12.75pt> <td width=280 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:210pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 1</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 2</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 3</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Total</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Patent acquisition obligation</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,812,088</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,812,088</font></p></td></tr></table></div> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px"><font style=FONT-SIZE:12pt>The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of October 31, 2015:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px">&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0px"> <table width=713 bordercolor=transparent style="WIDTH:532pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=280 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:210pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 1</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 2</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Level 3</font></p></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=94 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:70pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Total</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Patent acquisition obligation</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>-</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,688,187</font></p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$&nbsp;</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,688,187</font></p></td></tr></table></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px>&nbsp;</p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt>13</font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px" align=justify><font style=FONT-SIZE:12pt>The following table sets forth the changes in the fair value of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Level 3 financial liabilities that are measured at fair value on a recurring basis:</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=89 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:67pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> </tr><tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><u><font size=2 style=FONT-SIZE:12pt>Patent acquisition obligation</font></u></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <td width=89 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:67pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Balance October 31, 2015</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td width=89 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:67pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,688,187 </font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td width=600 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Accreted interest on patent obligation</font></td> <td width=19 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:14pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>&nbsp;</font></td> <td width=89 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:67pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>123,901 </font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td width=600 height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; WIDTH:450pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Balance January 31, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>$</font></td> <td width=89 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:67pt; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>3,812,088 </font></p></td></tr></table><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Our non-financial assets that are measured 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 prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value. &nbsp;</font></p> <p style="MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="MARGIN:0px; LINE-HEIGHT:0.05pt"><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>INVESTMENTS</u></font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>At January 31, 2016 and October 31, 2015, we had certificates of deposit of $2,150,000 and $2,400,000, respectively, which were classified as short-term investments and reported at fair value. &nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>ACCOUNTS PAYABLE AND ACCRUED EXPENSES</u></font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Accounts payable and accrued expense consist of the following as of:</font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <div align=center> <table width=675 bordercolor=transparent style="WIDTH:506.1pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:13.1pt> <td width=460 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:345.1pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=100 colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:75.3pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>January 31, </font></p></td> <td width=16 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:12.15pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=98 colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:73.5pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>October 31, </font></p></td></tr> <tr style=HEIGHT:13.1pt> <td width=460 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:345.1pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=100 colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:75.3pt; 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="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>2016</font></p></td> <td width=16 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:12.15pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=98 colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:73.5pt; 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="TEXT-ALIGN:center; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=center><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>2015</font></p></td></tr> <tr style=HEIGHT:13.1pt> <td width=460 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:345.1pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Accounts payable</font></p></td> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=81 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:60.75pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>560,414 </font></p></td> <td width=16 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:12.15pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p></td> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=79 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:59pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>374,703 </font></p></td></tr> <tr style=HEIGHT:13.1pt> <td width=460 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:345.1pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Payroll and related expenses</font></p></td> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=81 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:60.75pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>453,629 </font></p></td> <td width=16 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:12.15pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=79 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:59pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>-</font></p></td></tr> <tr style=HEIGHT:13.1pt> <td width=460 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:345.1pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Accrued other</font></p></td> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=81 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:60.75pt; BACKGROUND:#cceeff; 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="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>22,175 </font></p></td> <td width=16 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:12.15pt; BACKGROUND:#cceeff; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal">&nbsp;</p></td> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=79 nowrap style="BORDER-TOP:0px; HEIGHT:13.1pt; BORDER-RIGHT:0px; WIDTH:59pt; BACKGROUND:#cceeff; 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="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>6,062 </font></p></td></tr> <tr style=HEIGHT:13.85pt> <td width=460 nowrap style="BORDER-TOP:0px; HEIGHT:13.85pt; BORDER-RIGHT:0px; WIDTH:345.1pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.85pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=81 nowrap style="BORDER-TOP:0px; HEIGHT:13.85pt; BORDER-RIGHT:0px; WIDTH:60.75pt; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>1,036,218 </font></p></td> <td width=16 nowrap style="BORDER-TOP:0px; HEIGHT:13.85pt; BORDER-RIGHT:0px; WIDTH:12.15pt; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <td width=19 nowrap style="BORDER-TOP:0px; HEIGHT:13.85pt; BORDER-RIGHT:0px; WIDTH:14.55pt; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>$</font></p></td> <td width=79 nowrap style="BORDER-TOP:0px; HEIGHT:13.85pt; BORDER-RIGHT:0px; WIDTH:59pt; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; BORDER-LEFT:0px; PADDING-RIGHT:5.4pt" valign=bottom> <p style="TEXT-ALIGN:right; MARGIN:0in 0in 0pt; LINE-HEIGHT:normal" align=right><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>380,765 </font></p></td></tr></table></div> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=right><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>NET LOSS PER SHARE OF COMMON STOCK </u></font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Basic net income (loss) per common share (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Basic EPS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) is computed by dividing net income (loss) by the weighted average number of common shares outstanding. &nbsp;Diluted net income (loss) per common share (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Diluted EPS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) is computed by dividing net 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.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Diluted EPS for the three months ended January 31, 2016 is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &nbsp;For this reason, excluded from the calculation of Diluted EPS for the three months ended January 31, 2016 were stock options to purchase 2,712,472 shares, warrants to purchase 802,587 shares and preferred stock convertible into 739,958 shares. <br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>14</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></p> <p style=MARGIN:0px><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Dilutive EPS for the three months ended January 31, 2015 excluded stock options to purchase 2,803,196 shares and warrants to purchase 1,044,931 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 January 31, 2015:</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0px" align=justify> <table width=450 bordercolor=transparent style="WIDTH:450pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0 align=center> <tr height=17 style=HEIGHT:12.75pt> <td width=635 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:476pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td width=145 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:109pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>For the Three</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>Months Ended</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=center>&nbsp;</p></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom> <p align=center><font size=2 style=FONT-SIZE:12pt>January 31, 2015</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Basic weighted average common shares outstanding</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>8,788,375</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Effect of Series A convertible preferred stock</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>461,572</font></p></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom><font size=2 style=FONT-SIZE:12pt>Effect of stock options</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px; BACKGROUND-COLOR:#cceeff" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>1,588</font></p></td></tr> <tr height=18 style=HEIGHT:13.5pt> <td height=18 style="BORDER-TOP:0px; HEIGHT:13.5pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font size=2 style=FONT-SIZE:12pt>Dilutive weighted average common shares outstanding</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 2pt double; BORDER-LEFT:0px" valign=bottom> <p align=right><font size=2 style=FONT-SIZE:12pt>9,251,535</font></p></td></tr></table></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS</u></font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-09<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;This standard update is effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-12<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Compensation <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-15<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-03<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>15</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-17<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px"><font style=FONT-SIZE:12pt>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>INCOME TAXES </u></font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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 January 31, 2016 and October 31, 2015.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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. We have substantial net operating loss carryforwards for Federal and New York State income tax returns. 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></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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 1). &nbsp;As a result we realized taxable income during the first quarter of fiscal year 2015. &nbsp;Any taxable income for the full fiscal year was 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 three months ended January 31, 2015 as a result of the partial release of the valuation reserve recorded against our deferred tax assets.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=center><font style=FONT-SIZE:12pt>16</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></p> <p style=MARGIN:0px><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;COMMITMENT AND CONTINGENCES</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u> <font style=FONT-SIZE:12pt>Patent Acquisition Obligations </font> </u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align=justify> <font style=FONT-SIZE:12pt>As of January 31, 2016, we have incurred obligations due no later than November 2017 related to the acquisition of patents, which have a discounted present value of approximately $3,812,000, and which amount will be reduced by royalties paid during the period, if any. &nbsp;The payment due in November 2017 is payable at the option of the Company in cash or common stock. We recorded interest expense of approximately $124,000 and $109,000, respectively, for the three months ended January 31, 2016 and 2015, for the accretion of interest on patent acquisition obligations.</font> </p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><u><font style=FONT-SIZE:12pt>Litigation Matters</font></u></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 1). </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>17</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></p> <p style=MARGIN:0px><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style=MARGIN:0px><b><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt><a name=MANAGEMENT><font style=FONT-SIZE:12pt>Item 2. &nbsp;<u>Management's Discussion and Analysis of Financial Condition and Results of Operations.</u></font></a></font></font></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u><font style=FONT-SIZE:12pt>GENERAL</font></u></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>As used herein, <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>we,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>us,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>our,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> or <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ITUS<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s assets, seek reparations from a previous joint development partner, change the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s name and ticker symbol, relocate the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s stock was accepted for listing and began trading on the NASDAQ Capital Market. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &nbsp;with The Wistar Institute, the nation<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &nbsp;&nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company has outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies which was discontinued in February 2016, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &nbsp;We do not expect these activities to be a significant part of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ongoing operations.</font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.<br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>18</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u><font style=FONT-SIZE:12pt>RESULTS OF OPERATIONS</font></u></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u><font style=FONT-SIZE:12pt>Three months ended January 31, 2016 compared with three months ended January 31, 2015</font></u></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px"><b><i><font style=FONT-SIZE:12pt>Revenue from Licensing Activities</font></i></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style="FONT-SIZE:12pt; BACKGROUND-COLOR:#ffffff">We did not record any revenue from licensing activities during the three months ended January 31, 2016. During the three months ended January 31, 2015, we recorded revenue from licensing activities of $135,000 from one license agreement. The license agreement provided for a one-time, non-recurring, lump sum payment in exchange for a non-exclusive retroactive and future license and covenant 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;</font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px"><b><i><font style=FONT-SIZE:12pt>Revenue from Settlement with AU Optronics Corporation</font></i></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style="FONT-SIZE:12pt; BACKGROUND-COLOR:#ffffff">We did not record any revenue from settlement with AUO during the three months ended January 31, 2016. &nbsp;Revenue from the settlement with AUO was $9,000,000 for the three months ended January 31, 2015. &nbsp;On December 29, 2014, the Company and AUO entered into a Settlement Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO Settlement Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) and a Patent Assignment Agreement (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>AUO Patent Assignment Agreement<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) pursuant to which the Company received an aggregate of $9,000,000 from AUO. The AUO Settlement Agreement and the AUO Patent Assignment Agreement were entered into to resolve a lawsuit filed by the Company against AUO in January of 2013, in connection with the joint development and commercialization of two of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i><font style=FONT-SIZE:12pt>Inventor Royalties and Contingent Legal Fees </font></i></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>We did not incur any inventor royalties and contingent legal fees during the three months ended January 31, 2016. &nbsp;Inventor royalties and contingent legal fees are expensed in the period that the related revenues are recognized. Inventor royalties and contingent legal fees were approximately $89,000 for the three months ended January 31, 2015. The economic terms of patent agreements and contingent legal fee arrangements vary across the patent portfolios owned or controlled by our operating subsidiaries. &nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i><font style=FONT-SIZE:12pt>Litigation and Licensing Expenses</font></i></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Litigation and licensing expenses were approximately $60,000 in the three months ended January 31, 2016 compared to approximately $3,335,000 in the comparable prior year period. &nbsp;Litigation and licensing expenses in the prior year 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.<br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>19</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i><font style=FONT-SIZE:12pt>Amortization of Patents</font></i></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Amortization of patents was approximately $81,000 in each of the three month periods ended January 31, 2016 and 2015, respectively. &nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. &nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px"><b><i><font style=FONT-SIZE:12pt>Marketing, General and Administrative Expenses</font></i></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Marketing, general and administrative expenses decreased by approximately $442,000 to approximately $1,331,000 in the three months ended January 31, 2016, from approximately $1,773,000 in the three months ended January 31, 2015. The decrease in marketing, general and administrative expenses was principally due to a decrease in employee stock option expense of approximately $430,000, a decrease in consulting and outside services expense, other than stock option expense, of approximately $101,000, a decrease in legal and auditing fees of approximately $73,000, offset by an increase in outside research and development expense of approximately $92,000.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i><font style=FONT-SIZE:12pt>Interest Expense</font></i></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Interest expense increased by approximately $15,000 to approximately $124,000 for the three months ended January 31, 2016 from approximately $109,000 in the three months ended January 31, 2015. &nbsp;Interest expense for both periods represents the accreted interest on our patent acquisition obligation. &nbsp;</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><i><font style=FONT-SIZE:12pt>Interest Income </font></i></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Interest income decreased to approximately $3,000 in the three months ended January 31, 2016 compared to approximately $5,000 in the three months ended January 31, 2015 due to a decrease in the amount invested in money market funds and certificates of deposit during the current period.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u><font style=FONT-SIZE:12pt>LIQUIDITY AND CAPITAL RESOURCES</font></u></b></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style="FONT-SIZE:12pt; BACKGROUND-COLOR:#ffffff">Our primary sources of liquidity are cash, cash equivalents and short-term investments.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=BACKGROUND-COLOR:#ffffff><font style=FONT-SIZE:12pt><font style=FONT-SIZE:12pt>Based on currently available information as of February 19, 2016, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. &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, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, <font style=BACKGROUND-COLOR:#ffffff>such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></font></font></p></font> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>20</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <div><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></div><font style=FONT-SIZE:12pt>&nbsp;</font> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>During the three months ended January 31, 2016, cash used in operating activities was approximately $532,000. &nbsp;Net cash provided by investing activities was approximately $144,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $500,000, which was offset by the purchase&nbsp;of certificates of deposit totaling $250,000 and the purchase of property and equipment of approximately $106,000. &nbsp;As a result, our cash, cash equivalents and short-term investments at January 31, 2016 decreased by approximately $638,000 to approximately $6,131,000 from approximately $6,769,000 at the end of fiscal year 2015.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u><font style=FONT-SIZE:12pt>CRITIAL ACCOUNTING POLICIES</font></u></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>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.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>We believe that, of the significant accounting policies discussed in Note 2 to our consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 31, 2015, the following accounting policies require our most difficult, subjective or complex judgments:</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:13px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>&#183;&nbsp;&nbsp; Revenue Recognition; and</font></p> <p style="MARGIN-BOTTOM:13px; FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>&#183;&nbsp;&nbsp; Stock-Based Compensation</font></p> <p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align=justify><b><font style=FONT-SIZE:12pt>Revenue Recognition</font></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</font></p> <p style="MARGIN-BOTTOM:4px; FONT-SIZE:12pt; MARGIN-TOP:16px; TEXT-INDENT:48px"><b><font style=FONT-SIZE:12pt>Stock-Based Compensation </font></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The compensation cost for stock options granted to employees and directors is measured at the grant date, based on the fair value of the award using the Black-Scholes pricing model, and is recognized as an expense, on a straight-line basis, over the requisite service period (the vesting period of the stock option) which is one to ten years. We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $112,000 and $543,000 during the three months ended January 31, 2016 and 2015, respectively. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>21</font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The compensation cost for stock options granted to consultants is measured based on fair value at each reporting period, using the Black-Scholes pricing model, and is recognized as an expense over the requisite service period of the grant. We recorded stock-based compensation expense, related to stock options granted to consultants, of approximately $-0- and $(51,000) during the three months ended January 31, 2016 and 2015, respectively. </font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><u><font style=FONT-SIZE:12pt>EFFECT OF RECENTLY ISSUED PRONOUNCEMENTS</font></u></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-09<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;This standard update is effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-12<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), Compensation <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2014-15<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-03<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>22</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>ASU 2015-17<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><u><font style=FONT-SIZE:12pt>FORWARD-LOOKING STATEMENTS</font></u></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>Information included in this Quarterly Report on Form 10-Q (this <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Report<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Securities Act<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), and Section 21E of the Securities Exchange Act of 1934, as amended (the <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>Exchange Act<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>). &nbsp;Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results. &nbsp;We generally use the words <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>believes,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>expects,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>intends,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>plans,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>anticipates,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>likely,<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#147;</font>will<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font> and similar expressions to identify forward-looking statements. &nbsp;Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. &nbsp;&nbsp;These risks, uncertainties and factors include, but are not limited to, those factors set forth in our Annual Report on Form 10-K for the fiscal year ended October 31, 2015 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.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><a name="MARKET RISK"><font style=FONT-SIZE:12pt>Item 3. &nbsp;<u>Quantitative and Qualitative Disclosures About Market Risk.</u></font></a></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>As of January 31, 2016, 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.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><a name=CONTROL><font style=FONT-SIZE:12pt>Item 4. &nbsp;<u>Controls and Procedures.</u></font></a></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> 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 <font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#150;</font> 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;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>There was no change in our internal control over financial reporting during the first quarter of fiscal year 2016 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>23</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><b><u><a name=OI><font style=FONT-SIZE:12pt>PART II. &nbsp;OTHER INFORMATION</font></a></u></b></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><b><a name=LEGAL><font style=FONT-SIZE:12pt>Item 1.&nbsp; <u>Legal Proceedings.</u></font></a></b><font style=FONT-SIZE:12pt> &nbsp;</font></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px"><b><font style=FONT-SIZE:12pt><a name=RISK>Item 1A. &nbsp;<u>Risk Factors</u>.</a></font></b></p> <p style=MARGIN:0px><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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, 2015.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><b><a name=UNREGISTERED><font style=FONT-SIZE:12pt>Item 2. &nbsp; <u>Unregistered Sales of Equity Securities and Use of Proceeds</u>.</font></a><font style=FONT-SIZE:12pt> </font></b><font style=FONT-SIZE:12pt>&nbsp;&nbsp;</font></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px" align=justify><font style=FONT-SIZE:12pt>During the three months ended January 31, 2016, the Company issued 6,000 shares of our common stock for payment of public relations and investor relations services and for the acquisition of a patent license. &nbsp;The common stock was issued in reliance on an exemption from registration under Section 4(a)(2) of the Securities Act.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><b><a name=SS><font style=FONT-SIZE:12pt>Item 3. <u>Defaults Upon Senior Securities</u></font></a></b><font style=FONT-SIZE:12pt>.<b>&nbsp;&nbsp;</b>None.</font></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><a name=MINE><font style=FONT-SIZE:12pt><b>Item 4</b>. <b><u>Mine Safety Disclosures</u></b></font></a><font style=FONT-SIZE:12pt>.&nbsp;&nbsp;Not Applicable.</font></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><a name=OTHER><font style=FONT-SIZE:12pt><b>Item 5. <u>Other Information</u></b>.</font></a></font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On February 18, 2016, the Compensation Committee of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s Board of Directors approved a one-time discretionary cash bonus of $200,000 for each of Robert A. Berman and Dr. Amit Kumar for their services to the Company.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>On October 3, 2014, the Company announced that its wholly-owned subsidiary, Secure Web Conference Corporation ("SWCC<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#148;</font>), received an unfavorable claims construction ruling in its patent infringement lawsuit against Microsoft Corporation. On January 22, 2015, the Company announced that SWCC filed a notice of appeal of the adverse ruling with the U.S. Court of Appeals for the Federal Circuit. On February 17, 2016, the U.S. Court of Appeals for the Federal Circuit issued an opinion affirming the adverse claims construction ruling.&nbsp;</font></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>24</font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style=MARGIN:0px><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a></p> <p style=MARGIN:0px><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>The Company also previously announced that as part of its legacy operations, it had outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s thin-film display technologies. That project has been terminated. Both the SWCC lawsuit and the development project were not significant parts of the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ongoing operations, and had no impact on the Company<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s financial statements.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (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<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s board of directors.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify><b><a name=EX><font style=FONT-SIZE:12pt>Item 6. &nbsp;<u>Exhibits.</u></font></a></b></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>31.1 &nbsp;&nbsp;&nbsp;Certification of Chief Executive Officer, pursuant to Section 302 of &nbsp;&nbsp;the Sarbanes-Oxley Act of 2002, dated February 19, 2016.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt>31.2 &nbsp;&nbsp;&nbsp;Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated February 19, 2016.</font></p> <p style=MARGIN:0px align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px"><font style=FONT-SIZE:12pt>32.1</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>Statement of Chief Executive Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated February 19, 2016.</font></p> <p style="CLEAR:left; MARGIN:0px" align=justify><font style=FONT-SIZE:12pt><br></font></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px"><font style=FONT-SIZE:12pt>32.2</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify><font style=FONT-SIZE:12pt>Statement of Chief Financial Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated February 19, 2016.</font></p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>25</font></p><font style=FONT-SIZE:12pt> <hr> </font> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div> <p style="CLEAR:left; MARGIN:0px" align=left><a href=#TOC><font size=3 style=FONT-SIZE:12pt>Table of Contents</font></a><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><b><u><a name=sign><font style=FONT-SIZE:12pt>SIGNATURES</font></a></u></b></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style=MARGIN:0px align=center><font style=FONT-SIZE:12pt><br></font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><font style=FONT-SIZE:12pt>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.</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify> <table width=550 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=17 style=HEIGHT:12.75pt> <td width=369 height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; WIDTH:277pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td width=346 colspan=2 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:260pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt><strong>ITUS CORPORATION</strong></font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2><font style=FONT-SIZE:12pt>By:&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>/s/ Robert A. Berman</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>Robert A. Berman</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2><font style=FONT-SIZE:12pt>President and Chief Executive Officer&nbsp;&nbsp;&nbsp;</font></font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>February 19, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>(Principal Executive Officer)</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" /> </tr><tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2><font style=FONT-SIZE:12pt>By:&nbsp;</font></font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>/s/ Henry P. Herms</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>Henry P. Herms</font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2><font style=FONT-SIZE:12pt>Vice President - Finance and&nbsp;</font></font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2><font style=FONT-SIZE:12pt>Chief Financial Officer&nbsp;</font></font></td></tr> <tr height=17 style=HEIGHT:12.75pt> <td height=17 style="BORDER-TOP:0px; HEIGHT:12.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>February 19, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px"><font size=2 style=FONT-SIZE:12pt>(Principal Financial and Accounting Officer)</font></td></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align=justify><br><font style=FONT-SIZE:12pt>&nbsp;</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><font style=FONT-SIZE:12pt>26</font></p> <p style=MARGIN:0px align=center><br><font style=FONT-SIZE:12pt>&nbsp;</font></p></body>
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<head><title>EXHIBIT 31.1</title> </head> <body style="FONT-SIZE:10pt; FONT-FAMILY:'Times New Roman'; COLOR:#000000; MARGIN-TOP:0px"> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>Exhibit 31.1</u></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>CERTIFICATION</u></p> <p style=MARGIN:0px><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>I, Robert Berman, certify that:</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">1.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>I have reviewed this quarterly report on Form 10-Q of ITUS Corporation; </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">2.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>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="CLEAR:left; MARGIN:0px"><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">3.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>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="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">4.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>The registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(a)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(b)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(c)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Evaluated the effectiveness of the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(d)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Disclosed in this report any change in the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting that occurred during the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s most recent fiscal quarter (the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting; and</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">5.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s auditors and the audit committee of the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s board of directors (or persons performing the equivalent functions): </p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px">(a)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to record, process, summarize and report financial information; and </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px">(b)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting. </p> <p style="CLEAR:left; MARGIN:0px"><br></p> <p style=MARGIN:0px>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px"> <table width=450 bordercolor=transparent style="WIDTH:450pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=21 style=HEIGHT:15.75pt> <td width=369 height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:277pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=26 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:20pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=320 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:240pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>/s/ Robert A. Berman</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>Robert A. Berman</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>President and Chief Executive Officer&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>February 19, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom>(Principal Executive Officer)</td></tr></table></p> <p style="CLEAR:left; MARGIN:0px"><br><br></p></body>
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<TYPE>EX-31.2
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<head><title>EXHIBIT 31.2</title> </head> <body> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>Exhibit 31.2</u></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>CERTIFICATION</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>I, Henry P. Herms, certify that:</p> <p style=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">1.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>I have reviewed this quarterly report on Form 10-Q of ITUS Corporation; </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">2.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>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="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">3.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>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="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">4.</p> <p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN-TOP:0px; TEXT-INDENT:-2px" align=justify>The registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:</p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; CLEAR:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(a)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(b)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(c)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Evaluated the effectiveness of the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:96px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:48px">(d)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Disclosed in this report any change in the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting that occurred during the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s most recent fiscal quarter (the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting; and<br></p> <p /> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">5.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s auditors and the audit committee of the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s board of directors (or persons performing the equivalent functions): </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px">(a)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s ability to record, process, summarize and report financial information; and </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:144px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:96px">(b)</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:96px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant<font style="FONT-FAMILY:Times New Roman Unicode MS,Times New Roman">&#146;</font>s internal control over financial reporting. </p> <p style="CLEAR:left; MARGIN:0px" align=justify><br>&nbsp;</p> <p style=MARGIN:0px align=justify> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=21 style=HEIGHT:15.75pt> <td width=369 height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:277pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=26 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:20pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=320 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:240pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>/s/ Henry P. Herms&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>Henry P. Herms</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LINE-HEIGHT:90%>Vice President - Finance and&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LINE-HEIGHT:90%>Chief Financial Officer&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LINE-HEIGHT:90%>February 19, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom>(Principal Financial and Accounting Officer)</td></tr></table><br></p> <p style=MARGIN:0px align=center>&nbsp;</p></body>
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<TYPE>EX-32.1
<SEQUENCE>4
<FILENAME>exhibit32_1.htm
<DESCRIPTION>EXHIBIT 32.1
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<head><title>EXHIBIT 32.1</title> </head> <body> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>Exhibit 32.1</u></p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Statement of Chief Executive Officer</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Pursuant to Section 1350 of Title 18 of the United States Code</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>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=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">1.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The Company's Form 10-Q Quarterly Report for the period ended January 31, 2016 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">2.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br>&nbsp;</p> <p style=MARGIN:0px> <table width=450 bordercolor=transparent style="WIDTH:450pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=21 style=HEIGHT:15.75pt> <td width=369 height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:277pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=26 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:20pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=320 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:240pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>/s/ Robert A. Berman</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>Robert A. Berman</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>President and Chief Executive Officer&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom>February 19, 2016</td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom>(Principal Executive Officer)</td></tr></table><br></p></body>
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<TYPE>EX-32.2
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<head><title>EXHIBIT 32.2</title> </head> <body> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center><u>Exhibit 32.2</u></p> <p style=MARGIN:0px align=center><br></p> <p style=MARGIN:0px align=center><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Statement of Chief Financial Officer</p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=center>Pursuant to Section 1350 of Title 18 of the United States Code</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align=justify>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=MARGIN:0px align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">1.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The Company's Form 10-Q Quarterly Report for the period ended January 31, 2016 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px; TEXT-INDENT:24px">2.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.</p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style=MARGIN:0px> <table width=500 bordercolor=transparent style="WIDTH:500pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr height=21 style=HEIGHT:15.75pt> <td width=369 height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:277pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=26 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:20pt; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td width=320 style="BORDER-TOP:0px; BORDER-RIGHT:0px; WIDTH:240pt; BORDER-BOTTOM:windowtext 0.5pt solid; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>/s/ Henry P. Herms&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LETTER-SPACING:-0.15pt>Henry P. Herms</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LINE-HEIGHT:90%>Vice President - Finance and&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LINE-HEIGHT:90%>Chief Financial Officer&nbsp;</font></td></tr> <tr height=21 style=HEIGHT:15.75pt> <td height=21 style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom><font style=LINE-HEIGHT:90%>February 19, 2016</font></td> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom /> <td style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; BORDER-LEFT:0px" valign=bottom>(Principal Financial and Accounting Officer)</td></tr></table><br></p> <p style=MARGIN:0px><br>&nbsp;</p></body>
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  <us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px&quot;&gt;1.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;u&gt;BUSINESS&amp;nbsp;AND&amp;nbsp;FUNDING&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px&quot;&gt;&lt;u&gt;Description of Business&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As used herein, &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;we,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;us,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;our,&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; or &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ITUS&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt; means ITUS Corporation and its wholly-owned subsidiaries. &amp;nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &amp;nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s assets, seek reparations from a previous joint development partner, change the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s name and ticker symbol, relocate the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s stock was accepted for listing and began trading on the NASDAQ Capital Market. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &amp;nbsp;with The Wistar Institute, the nation&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2019;&lt;/font&gt;s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2019;&lt;/font&gt;s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &amp;nbsp;&amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s thin-film display technologies which was discontinued in February 2016, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &amp;nbsp;We do not expect these activities to be a significant part of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s ongoing operations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;AUO Lawsuit and Settlement&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:#ffffff&quot;&gt;On December 29, 2014, the Company and AU Optronics Corporation (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;AUO&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) entered into a Settlement Agreement, 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&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s patented ePaper&amp;reg; Electrophoretic Display, and Nano Field Emission Display 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 Securities and Exchange Commission (the &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;SEC&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) December 23, 2015.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;u&gt;Funding and Management&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s Plans&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;During the three months ended January 31, 2016, cash used in operating activities was approximately $532,000. &amp;nbsp;Net cash provided by investing activities was approximately $144,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $500,000, which was offset by the purchase&amp;nbsp;of certificates of deposit totaling $250,000 and the purchase of property and equipment of approximately $106,000. &amp;nbsp;As a result, our cash, cash equivalents and short-term investments at January 31, 2016 decreased by approximately $638,000 to approximately $6,131,000 from approximately $6,769,000 at the end of fiscal year 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:#ffffff&quot;&gt;Based on currently available information as of February 19, 2016, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&amp;nbsp; However, our projections of future cash needs and cash flows may differ from actual results. &amp;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, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&amp;nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&amp;nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;BACKGROUND-COLOR:#ffffff&quot;&gt;&lt;u&gt;Reverse Stock Split&lt;/u&gt;&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: 54px;&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;background-color: #ffffff;&quot;&gt;On June 26, 2015, we effected a 1-for-25 reverse stock split (the &lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201c;&lt;/font&gt;Stock Split&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x201d;&lt;/font&gt;) of our issued common stock and preferred stock. Each shareholders&lt;font style=&quot;font-family: Arial Unicode MS,Times New Roman;&quot;&gt;&amp;#x2019;&lt;/font&gt; 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. &amp;nbsp;As a result of the Stock Split, the number of shares of our common stock and preferred stock authorized was also decreased by the same proportion as the outstanding shares.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Basis of Presentation&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&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. &amp;nbsp;Accordingly, certain information and footnotes required by generally accepted accounting principles in annual financial statements have been omitted or condensed. &amp;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, 2015, as reported by us in our Annual Report on Form 10-K filed with the SEC on December 23, 2015. &amp;nbsp;The October 31, 2015 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 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;US GAAP&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;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 January 31, 2016, and results of operations and cash flows for the interim periods represented. &amp;nbsp;The results of operations for the three months ended January 31, 2016 are not necessarily indicative of the results to be expected for the entire year.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Revenue Recognition&lt;/u&gt; &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: 0px;&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;Patent Licensing&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&amp;nbsp;&amp;nbsp;These arrangements typically include some combination of the following:&amp;nbsp;&amp;nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&amp;nbsp;&amp;nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&amp;nbsp;&amp;nbsp;Pursuant to the terms of these agreements, we had no further obligations. &amp;nbsp;&amp;nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Intangible Assets&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;Our only identifiable intangible assets are patents and patent rights. &amp;nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. We did not capitalize any patent acquisition costs during the three months ended January 31, 2016 and 2015. We recorded patent amortization expense of approximately $81,000 and $81,000 during the three months ended January 31, 2016 and 2015, respectively.&lt;/p&gt;&lt;br/&gt;</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
  <us-gaap:ProceedsFromLegalSettlements unitRef="usd" contextRef="c20_From29Dec2014To29Dec2014" decimals="0">9000000</us-gaap:ProceedsFromLegalSettlements>
  <us-gaap:ProceedsFromOperatingActivities unitRef="usd" contextRef="c6_From1Nov2015To31Jan2016" decimals="0">532000</us-gaap:ProceedsFromOperatingActivities>
  <us-gaap:CashPeriodIncreaseDecrease unitRef="usd" contextRef="c6_From1Nov2015To31Jan2016" decimals="0">638000</us-gaap:CashPeriodIncreaseDecrease>
  <us-gaap:CashCashEquivalentsAndShortTermInvestments unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">6131000</us-gaap:CashCashEquivalentsAndShortTermInvestments>
  <us-gaap:CashCashEquivalentsAndShortTermInvestments unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">6769000</us-gaap:CashCashEquivalentsAndShortTermInvestments>
<!-- [WMV4][XcpuxYn59dz7vgYynUDuwG7r97K2jUTysl7vcz0lJt+1Vq3zhhUlfDeP/RQUzUZiwX1Z6rUqHVJXvfnkhcbdFVDB3Xzjr8GYgR3ueC0UmUskCL/8sv2oPv7E6JK3/KL6jU0OZgdjxPQcIpyl1vMTYKLPKrgr3FcSdzaMVsiRIzyhZMtMc3IeFZsx6Pj2fgS+OLzNRoowMye6hICHCRbwbxvcFCqGULUP] CSR-->
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: -2px;&quot; align=&quot;justify&quot;&gt;2.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;font style=&quot;text-decoration: underline;&quot;&gt;STOCK BASED COMPENSATION&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&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;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Stock Option Compensation Expense &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The compensation cost for stock options granted to employees and directors is measured at the grant date, based on the fair value of the award using the Black-Scholes pricing model, and is recognized as an expense, on a straight-line basis, over the requisite service period (the vesting period of the stock option) which is one to ten years. We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $112,000 and $543,000 during the three months ended January 31, 2016 and 2015, respectively. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The compensation cost for stock options granted to consultants is measured based on fair value at each reporting period, using the Black-Scholes pricing model, and is recognized as an expense over the requisite service period of the grant. We recorded stock-based compensation expense, related to stock options granted to consultants, of approximately $-0- and $(51,000) during the three months ended January 31, 2016 and 2015, respectively. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Stock Option Activity &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We did not grant any stock options during the three months ended January 31, 2016. During the three months ended January 31, 2015, we granted options to purchase 52,000 shares of common stock at an exercise price of $2.80 per share pursuant to the ITUS Corporation 2010 Share Incentive Plan (the &quot;2010 Share Plan&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;&amp;nbsp;During the three months ended January 31, 2016 and 2015, no stock options to purchase shares of common stock were exercised.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px&quot;&gt;&lt;u&gt;Stock&amp;nbsp;Option&amp;nbsp;Plans&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;As of January 31, 2016, we have two stock option plans: &amp;nbsp;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. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The 2003 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees, directors and consultants. &amp;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. &amp;nbsp;Information regarding the 2003 Share Plan for the three months ended January 31, 2016 is as follows:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 697px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.15pt; height: 13.5pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Weighted Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.15pt; height: 13.5pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Intrinsic &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 16.75pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 84.05pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 84.15pt; height: 13.5pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.3pt;&quot;&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;366,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;17.86 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;90&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.05pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding and exercisable at&amp;nbsp; January 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;366,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;17.86 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;90&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;20,237 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of January 31, 2016: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 214pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;285&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;and&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp; &lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.79 - $&lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;7.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;73,880&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2.91 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$13.50 - $17.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;59,600&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.08 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;16.75 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$18.75 - $23.00&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;192,720&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;.88 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;21.57 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;40,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.56 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;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, directors and consultants. &amp;nbsp;As of January 31, 2016, the 2010 Share Plan had 988,955 shares available for future grants. &amp;nbsp;Information regarding the 2010 Share Plan for the three months ended January 31, 2016 is as follows: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 645px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

       &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;131&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;131&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 87.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 98.4pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;131&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 13.9pt;&quot;&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;526,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;110&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.6pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding&amp;nbsp; at January 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;526,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;110&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;149,942 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.6pt;&quot;&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Exercisable at January 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;447,318&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;110&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;124,197 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;

     &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;left&quot;&gt;The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of January 31, 2016:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 83pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;110&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 249pt;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;330&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Options Outstanding&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 275pt;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;365&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$2.58 - $9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;526,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;6.72&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;447,318&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;6.51&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 10.00pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 10.00pt;&quot; height=&quot;10&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small; display: none;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, the Board of Directors approved the grant of stock options to purchase 1,780,000 shares. &amp;nbsp;Information regarding stock options outstanding that were not granted under the 2003 Plan or the 2010 Plan for the three months ended January 31, 2016 is as follows: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 709px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 13.65pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;104&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 13.65pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;104&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 13.65pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 83.6pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 78.2pt; height: 13.65pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;104&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.45pt;&quot;&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2.70 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;83&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 15.3pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding&amp;nbsp; and exercisable at January 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2.70 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;83&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;619,600 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table summarizes information about stock options outstanding and exercisable that were not granted under the 2003 Share Plan or the 2010 Share Plan as of January 31, 2016:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;and&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$2.58-$5.56&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;6.51&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$2.70 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px none currentcolor; text-align: right; display: none;&quot;&gt;&amp;nbsp;.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Stock Awards &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We account for stock awards granted to employees and consultants based on the grant date market price of the underlying common stock. &amp;nbsp;During the three months ended January 31, 2016 and 2015, we issued 2,000 shares and 800 shares, respectively, of common stock to consultants for services rendered. &amp;nbsp;We recorded consulting expense for the three months ended January 31, 2016 and 2015 of approximately $6,000 and $4,000, respectively, for the shares of common stock issued to consultants. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1 contextRef="c21_From1Nov2015To31Jan2016_EmployeeStockOptionMember_MinimumMember">P1Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1 contextRef="c22_From1Nov2015To31Jan2016_EmployeeStockOptionMember_MaximumMember">P10Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c23_From1Nov2015To31Jan2016_EmployeeStockOptionMember_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">112000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c24_From1Nov2014To31Jan2015_EmployeeStockOptionMember_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">543000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c25_From1Nov2015To31Jan2016_ConsultantMember" decimals="0">0</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c26_From1Nov2014To31Jan2015_ConsultantMember" decimals="0">51000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c27_From1Nov2015To31Jan2016_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="INF">52000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c27_From1Nov2015To31Jan2016_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="2">2.80</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant unitRef="shares" contextRef="c28_AsOf31Jan2016_EmployeeStockOptionMember_P2010SharePlanMember" decimals="INF">988955</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant unitRef="shares" contextRef="c29_AsOf31Jan2016_EmployeeStockOptionMember_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c30_From1Nov2015To31Jan2016_EmployeeStockOptionMember_ConsultantMember" decimals="INF">2000</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c31_From1Nov2014To31Jan2015_EmployeeStockOptionMember_ConsultantMember" decimals="INF">800</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c30_From1Nov2015To31Jan2016_EmployeeStockOptionMember_ConsultantMember" decimals="0">6000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c31_From1Nov2014To31Jan2015_EmployeeStockOptionMember_ConsultantMember" decimals="0">4000</itus:ConsultationFeesRelatedToOptions>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c32_From1Nov2015To31Jan2016_p2003SharePlanMember">&lt;table style=&quot;width: 697px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.15pt; height: 13.5pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Weighted Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.15pt; height: 13.5pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Intrinsic &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 16.75pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 84.05pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 84.15pt; height: 13.5pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 14.3pt;&quot;&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;366,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;17.86 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 14.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;90&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.05pt;&quot;&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;328&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding and exercisable at&amp;nbsp; January 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;366,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;112&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;17.86 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;18&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;22&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 15.05pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;90&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;20,237 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c33_AsOf31Oct2015_p2003SharePlanMember" decimals="INF">366200</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c33_AsOf31Oct2015_p2003SharePlanMember" decimals="2">17.86</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber unitRef="shares" contextRef="c34_AsOf31Jan2016_p2003SharePlanMember" decimals="INF">366200</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c34_AsOf31Jan2016_p2003SharePlanMember" decimals="2">17.86</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue unitRef="usd" contextRef="c34_AsOf31Jan2016_p2003SharePlanMember" decimals="0">20237</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c32_From1Nov2015To31Jan2016_p2003SharePlanMember">&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 214pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;285&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;and&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp; &lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.79 - $&lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp; &lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;7.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;73,880&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2.91 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$13.50 - $17.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;59,600&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.08 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;16.75 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$18.75 - $23.00&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;192,720&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;.88 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;21.57 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;40,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1.56 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c35_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices179To925Member" decimals="INF">73880</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c36_From1Nov2015To31Jan2016_p2003SharePlanMember_RangeOfExercisePrices179To925Member">P1Y6M</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c35_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices179To925Member" decimals="2">2.91</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c37_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices1350To1750Member" decimals="INF">59600</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c38_From1Nov2015To31Jan2016_p2003SharePlanMember_RangeOfExercisePrices1350To1750Member">P1Y29D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c37_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices1350To1750Member" decimals="2">16.75</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c39_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices1875To2300Member" decimals="INF">192720</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c40_From1Nov2015To31Jan2016_p2003SharePlanMember_RangeOfExercisePrices1875To2300Member">P321D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c39_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices1875To2300Member" decimals="2">21.57</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c41_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices2925Member" decimals="INF">40000</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c42_From1Nov2015To31Jan2016_p2003SharePlanMember_RangeOfExercisePrices2925Member">P1Y204D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c41_AsOf31Jan2016_p2003SharePlanMember_RangeOfExercisePrices2925Member" decimals="2">29.25</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c43_From1Nov2015To31Jan2016_P2010SharePlanMember">&lt;table style=&quot;width: 645px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

       &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;131&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;131&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 87.2pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 98.4pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;131&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 13.9pt;&quot;&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;526,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 13.9pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;110&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.6pt;&quot;&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding&amp;nbsp; at January 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;526,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;110&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;149,942 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;
       &lt;tr style=&quot;height: 14.6pt;&quot;&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;256&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Exercisable at January 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;88&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;447,318&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;20&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;116&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
        &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;110&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;124,197 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;/tr&gt;

     &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c44_AsOf31Oct2015_P2010SharePlanMember" decimals="INF">526272</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c44_AsOf31Oct2015_P2010SharePlanMember" decimals="2">3.33</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c45_AsOf31Jan2016_P2010SharePlanMember" decimals="INF">526272</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c45_AsOf31Jan2016_P2010SharePlanMember" decimals="2">3.33</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue unitRef="usd" contextRef="c45_AsOf31Jan2016_P2010SharePlanMember" decimals="0">149942</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber unitRef="shares" contextRef="c45_AsOf31Jan2016_P2010SharePlanMember" decimals="INF">447318</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c45_AsOf31Jan2016_P2010SharePlanMember" decimals="2">3.33</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 unitRef="usd" contextRef="c45_AsOf31Jan2016_P2010SharePlanMember" decimals="0">124197</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c43_From1Nov2015To31Jan2016_P2010SharePlanMember">&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 83pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;110&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 249pt;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;330&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Options Outstanding&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 275pt;&quot; colspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;365&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$2.58 - $9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;526,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;6.72&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;447,318&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;6.51&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 10.00pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 10.00pt;&quot; height=&quot;10&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small; display: none;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions unitRef="shares" contextRef="c46_AsOf31Jan2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">526272</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c47_From1Nov2015To31Jan2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y262D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c46_AsOf31Jan2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.33</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions unitRef="shares" contextRef="c46_AsOf31Jan2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">447318</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c47_From1Nov2015To31Jan2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y186D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1 unitRef="usdPershares" contextRef="c46_AsOf31Jan2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.33</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c48_From1Nov2015To31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;table style=&quot;width: 709px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

      &lt;tr style=&quot;height: 13.65pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;104&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 13.65pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;104&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Intrinsic&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 13.65pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.7pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 83.6pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 78.2pt; height: 13.65pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;104&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 14.45pt;&quot;&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2.70 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 14.45pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;83&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;
      &lt;tr style=&quot;height: 15.3pt;&quot;&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;353&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Options Outstanding&amp;nbsp; and exercisable at January 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;85&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;111&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2.70 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;21&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
       &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 15.3pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;83&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;619,600 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;/tr&gt;

    &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c49_AsOf31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c49_AsOf31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">2.70</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber unitRef="shares" contextRef="c50_AsOf31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c50_AsOf31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">2.70</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue unitRef="usd" contextRef="c50_AsOf31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="0">619600</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c48_From1Nov2015To31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 135pt;&quot; valign=&quot;bottom&quot; width=&quot;180&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;and&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$2.58-$5.56&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;6.51&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$2.70 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px none currentcolor; text-align: right; display: none;&quot;&gt;&amp;nbsp;.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c51_AsOf31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member" decimals="INF">1780000</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c52_From1Nov2015To31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member">P6Y186D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c51_AsOf31Jan2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member" decimals="2">2.70</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: -2px;&quot; align=&quot;justify&quot;&gt;3.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font style=&quot;text-decoration: underline;&quot;&gt;FAIR VALUE MEASUREMENTS&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;US GAAP defines fair value and establishes a framework for measuring fair value. &amp;nbsp;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;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&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;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&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;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&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;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Level 3 &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Financial 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&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of January 31, 2016: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 15.75pt;&quot; valign=&quot;bottom&quot; height=&quot;21&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Money market funds &amp;#x2013;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Cash equivalents&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,402,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,402,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Certificates of deposit - Short-term investments&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,150,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,150,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 13.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;margin-left: 10pt; font-size: small;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,402,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,150,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;5,552,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Money market funds &amp;#x2013; Cash equivalents&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Certificates of deposit - Short term investments&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 13.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;margin-left: 10pt; font-size: small;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,867,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of January 31, 2016:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,812,088&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,812,088&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px none currentcolor; text-align: right; display: none;&quot;&gt;&amp;nbsp;.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of October 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,688,187&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,688,187&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px none currentcolor; text-align: right; display: none;&quot;&gt;&amp;nbsp;.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px&quot; align=&quot;justify&quot;&gt;The following table sets forth the changes in the fair value of the Company&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s Level 3 financial liabilities that are measured at fair value on a recurring basis:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 67pt;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 67pt;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Balance October 31, 2015&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 67pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,688,187 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Accreted interest on patent obligation&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 67pt;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;123,901 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 13.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Balance January 31, 2016&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; width: 67pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,812,088 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Our non-financial assets that are measured 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 prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &amp;nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 15.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 15.75pt;&quot; valign=&quot;bottom&quot; height=&quot;21&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Money market funds &amp;#x2013;&amp;nbsp;&amp;nbsp; &lt;/font&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Cash equivalents&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,402,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,402,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Certificates of deposit - Short-term investments&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,150,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,150,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 13.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;margin-left: 10pt; font-size: small;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,402,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,150,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;5,552,588 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 56pt;&quot; valign=&quot;bottom&quot; width=&quot;75&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Money market funds &amp;#x2013; Cash equivalents&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Certificates of deposit - Short term investments&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 13.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;margin-left: 10pt; font-size: small;&quot;&gt;Total financial assets&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;2,867,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c53_AsOf31Jan2016_CashEquivalentsMember_FairValueInputsLevel1Member" decimals="0">3402588</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c56_AsOf31Jan2016_CashEquivalentsMember" decimals="0">3402588</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c58_AsOf31Jan2016_CertificatesOfDepositMember_FairValueInputsLevel2Member" decimals="0">2150000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c59_AsOf31Jan2016_CertificatesOfDepositMember_FairValueInputsLevel3Member" xs:nil="true"/>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c60_AsOf31Jan2016_CertificatesOfDepositMember" decimals="0">2150000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c61_AsOf31Jan2016_FairValueInputsLevel1Member" decimals="0">3402588</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c62_AsOf31Jan2016_FairValueInputsLevel2Member" decimals="0">2150000</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">5552588</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c64_AsOf31Oct2015_CashEquivalentsMember_FairValueInputsLevel1Member" decimals="0">467967</us-gaap:AssetsFairValueDisclosureRecurring>
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  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c66_AsOf31Oct2015_CashEquivalentsMember_FairValueInputsLevel3Member" xs:nil="true"/>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c67_AsOf31Oct2015_CashEquivalentsMember" decimals="0">467967</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c68_AsOf31Oct2015_CertificatesOfDepositMember_FairValueInputsLevel1Member" xs:nil="true"/>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c69_AsOf31Oct2015_CertificatesOfDepositMember_FairValueInputsLevel2Member" decimals="0">2400000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c70_AsOf31Oct2015_CertificatesOfDepositMember_FairValueInputsLevel3Member" xs:nil="true"/>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c71_AsOf31Oct2015_CertificatesOfDepositMember" decimals="0">2400000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c72_AsOf31Oct2015_FairValueInputsLevel1Member" decimals="0">467967</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c73_AsOf31Oct2015_FairValueInputsLevel2Member" decimals="0">2400000</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c74_AsOf31Oct2015_FairValueInputsLevel3Member" xs:nil="true"/>
  <us-gaap:AssetsFairValueDisclosureRecurring unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">2867967</us-gaap:AssetsFairValueDisclosureRecurring>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,812,088&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,812,088&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
      &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border: 0px none currentcolor; text-align: right; display: none;&quot;&gt;&amp;nbsp;.&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;table style=&quot;width: 713px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 210pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;280&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;94&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,688,187&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,688,187&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px none currentcolor; text-align: right; display: none;&quot;&gt;&amp;nbsp;.&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c75_AsOf31Jan2016_FairValueInputsLevel1Member_PatentAcquisitionObligationMember" xs:nil="true"/>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c76_AsOf31Jan2016_FairValueInputsLevel2Member_PatentAcquisitionObligationMember" xs:nil="true"/>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c77_AsOf31Jan2016_FairValueInputsLevel3Member_PatentAcquisitionObligationMember" decimals="0">3812088</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c78_AsOf31Jan2016_PatentAcquisitionObligationMember" decimals="0">3812088</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c79_AsOf31Oct2015_FairValueInputsLevel1Member_PatentAcquisitionObligationMember" xs:nil="true"/>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c80_AsOf31Oct2015_FairValueInputsLevel2Member_PatentAcquisitionObligationMember" xs:nil="true"/>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c81_AsOf31Oct2015_FairValueInputsLevel3Member_PatentAcquisitionObligationMember" decimals="0">3688187</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c82_AsOf31Oct2015_PatentAcquisitionObligationMember" decimals="0">3688187</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;table style=&quot;width: 600px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 67pt;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 67pt;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&amp;nbsp;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Balance October 31, 2015&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 67pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,688,187 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Accreted interest on patent obligation&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 14pt;&quot; valign=&quot;bottom&quot; width=&quot;19&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;&amp;nbsp;&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 67pt;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;123,901 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 450pt; height: 13.5pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;600&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Balance January 31, 2016&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;$&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; width: 67pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;89&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;3,812,088 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

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  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">3688187</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">3812088</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
  <invest:InvestmentTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: -2px;&quot; align=&quot;justify&quot;&gt;4.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font style=&quot;text-decoration: underline;&quot;&gt;INVESTMENTS&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;At January 31, 2016 and October 31, 2015, we had certificates of deposit of $2,150,000 and $2,400,000, respectively, which were classified as short-term investments and reported at fair value. &amp;nbsp;&lt;/p&gt;&lt;br/&gt;</invest:InvestmentTextBlock>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">2150000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">2400000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: -2px;&quot; align=&quot;justify&quot;&gt;5.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font style=&quot;text-decoration: underline;&quot;&gt;ACCOUNTS PAYABLE AND ACCRUED EXPENSES&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Accounts payable and accrued expense consist of the following as of:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 675px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 75.3pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;100&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;January 31, &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 73.5pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;98&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;October 31, &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 75.3pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;100&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 73.5pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;98&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Accounts payable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;560,414 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;374,703 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Payroll and related expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;453,629 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Accrued other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;22,175 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&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;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;6,062 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.85pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt; display: none;&quot;&gt;Total&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;1,036,218 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;380,765 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;&lt;br/&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;table style=&quot;width: 675px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot;&gt;

     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 75.3pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;100&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;January 31, &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 73.5pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;98&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;October 31, &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 75.3pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;100&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 73.5pt; height: 13.1pt;&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;98&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Accounts payable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;560,414 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;374,703 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Payroll and related expenses&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;453,629 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.1pt;&quot;&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;Accrued other&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;22,175 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&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;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.1pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;6,062 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;
     &lt;tr style=&quot;height: 13.85pt;&quot;&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;460&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt; display: none;&quot;&gt;Total&lt;/font&gt;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;81&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; text-align: right; line-height: normal;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;1,036,218 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;16&quot;&gt;&amp;nbsp;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;19&quot;&gt;&lt;p style=&quot;margin: 0in 0in 0pt; line-height: normal;&quot;&gt;&lt;font style=&quot;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
      &lt;td style=&quot;border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.85pt;&quot; valign=&quot;bottom&quot; nowrap=&quot;nowrap&quot; width=&quot;79&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;color: black; font-family: &apos;Times New Roman&apos;,&apos;serif&apos;; font-size: 10pt;&quot;&gt;380,765 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
     &lt;/tr&gt;

   &lt;/table&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">560414</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">374703</us-gaap:AccountsPayableCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">453629</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" xs:nil="true"/>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">22175</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">6062</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent unitRef="usd" contextRef="c0_AsOf31Jan2016" decimals="0">1036218</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">380765</us-gaap:AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent>
  <us-gaap:EarningsPerShareTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: -2px;&quot; align=&quot;justify&quot;&gt;6. &amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font style=&quot;text-decoration: underline;&quot;&gt;NET LOSS PER SHARE OF COMMON STOCK &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Basic net income (loss) per common share (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Basic EPS&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) is computed by dividing net income (loss) by the weighted average number of common shares outstanding. &amp;nbsp;Diluted net income (loss) per common share (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;Diluted EPS&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) 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. &amp;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.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Diluted EPS for the three months ended January 31, 2016 is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &amp;nbsp;For this reason, excluded from the calculation of Diluted EPS for the three months ended January 31, 2016 were stock options to purchase 2,712,472 shares, warrants to purchase 802,587 shares and preferred stock convertible into 739,958 shares. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;Dilutive EPS for the three months ended January 31, 2015 excluded stock options to purchase 2,803,196 shares and warrants to purchase 1,044,931 shares because their effect would be antidilutive. &amp;nbsp;The following is a reconciliation between basic weighted average common shares outstanding and dilutive weighted average common shares outstanding for the three months ended January 31, 2015:&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;width: 550px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 476pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;635&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;For the Three&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Months Ended&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;January 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Basic weighted average common shares outstanding&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;8,788,375&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Effect of Series A convertible preferred stock&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;461,572&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Effect of stock options&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1,588&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 13.5pt;&quot; valign=&quot;bottom&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Dilutive weighted average common shares outstanding&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;9,251,535&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;&lt;br/&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c83_From1Nov2015To31Jan2016_EmployeeStockOptionMember" decimals="INF">2712472</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c84_From1Nov2015To31Jan2016_WarrantMember" decimals="INF">802587</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c85_From1Nov2015To31Jan2016_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c86_From1Nov2014To31Jan2015_EmployeeStockOptionMember" decimals="INF">2803196</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c87_From1Nov2014To31Jan2015_WarrantMember" decimals="INF">1044931</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;table style=&quot;width: 550px; border-collapse: collapse;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;

    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 476pt; height: 12.75pt;&quot; valign=&quot;bottom&quot; width=&quot;635&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; width: 109pt;&quot; valign=&quot;bottom&quot; width=&quot;145&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;For the Three&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Months Ended&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;p align=&quot;center&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;January 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Basic weighted average common shares outstanding&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;8,788,375&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Effect of Series A convertible preferred stock&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border: 0px currentColor;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;461,572&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 12.75pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 12.75pt; background-color: #cceeff;&quot; valign=&quot;bottom&quot; height=&quot;17&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Effect of stock options&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; background-color: #cceeff;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;1,588&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;
    &lt;tr style=&quot;height: 13.5pt;&quot;&gt;
     &lt;td style=&quot;border: 0px currentColor; height: 13.5pt;&quot; valign=&quot;bottom&quot; height=&quot;18&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;Dilutive weighted average common shares outstanding&lt;/font&gt;&lt;/td&gt;
     &lt;td style=&quot;border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext;&quot; valign=&quot;bottom&quot;&gt;&lt;p align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: small;&quot;&gt;9,251,535&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;
    &lt;/tr&gt;

  &lt;/table&gt;</us-gaap:ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock>
  <us-gaap:IncrementalCommonSharesAttributableToConversionOfPreferredStock unitRef="shares" contextRef="c7_From1Nov2014To31Jan2015" decimals="INF">461572</us-gaap:IncrementalCommonSharesAttributableToConversionOfPreferredStock>
  <us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements unitRef="shares" contextRef="c7_From1Nov2014To31Jan2015" decimals="INF">1588</us-gaap:IncrementalCommonSharesAttributableToShareBasedPaymentArrangements>
  <us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;font-size: 12pt; margin: 0px; text-indent: -2px;&quot; align=&quot;justify&quot;&gt;7.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;font style=&quot;text-decoration: underline;&quot;&gt;EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In May 2014, the Financial Accounting Standards Board (&quot;FASB&quot;) issued Accounting Standards Update 2014-09 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-09&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), Revenue from Contracts with Customers. &amp;nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &amp;nbsp;This standard update is effective for&amp;nbsp;interim and annual&amp;nbsp;reporting periods beginning after December 15,&amp;nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &amp;nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In June 2014, the FASB issued Accounting Standards Update 2014-12 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-12&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;), Compensation &lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8211;&lt;/font&gt; Stock Compensation. &amp;nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In August 2014, the FASB issued Accounting Standards Update 2014-15 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2014-15&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;). &amp;nbsp;This amendment requires management to assess an entity&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8217;&lt;/font&gt;s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In April 2015, the FASB issued Accounting Standards Update 2015-03 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2015-03&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In November 2015, the FASB issued Accounting Standards Update 2015-17 (&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8220;&lt;/font&gt;ASU 2015-17&lt;font style=&quot;FONT-FAMILY:Arial Unicode MS,Times New Roman&quot;&gt;&amp;#8221;&lt;/font&gt;) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &amp;nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&amp;nbsp;and related disclosures.&lt;/p&gt;&lt;br/&gt;</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>
  <us-gaap:IncomeTaxDisclosureTextBlock contextRef="c6_From1Nov2015To31Jan2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px&quot;&gt;8.&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp;&amp;nbsp; &lt;u&gt;INCOME TAXES &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We file Federal, New York State and California State income tax returns. &amp;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. &amp;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 January 31, 2016 and October 31, 2015.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &amp;nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. We have substantial net operating loss carryforwards for Federal and New York State income tax returns. 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.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&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 1). &amp;nbsp;As a result we realized taxable income during the first quarter of fiscal year 2015. &amp;nbsp;Any taxable income for the full fiscal year was completely offset by our net operating loss carryforwards, resulting in no tax due in any jurisdiction. &amp;nbsp;Accordingly, we have not recorded a tax provision for the three months ended January 31, 2015 as a result of the partial release of the valuation reserve recorded against our deferred tax assets.&lt;/p&gt;&lt;br/&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
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     Patent Acquisition Obligations
    &lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: 48px;&quot; align=&quot;justify&quot;&gt;As of January 31, 2016, we have incurred obligations due no later than November 2017 related to the acquisition of patents, which have a discounted present value of approximately $3,812,000, and which amount will be reduced by royalties paid during the period, if any. &amp;nbsp;The payment due in November 2017 is payable at the option of the Company in cash or common stock. &amp;nbsp;We recorded interest expense of approximately $124,000 and $109,000, respectively, for the three months ended January 31, 2016 and 2015, for the accretion of interest on patent acquisition obligations.&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Litigation Matters&lt;/u&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 1). &lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &amp;nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.&lt;/p&gt;&lt;br/&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
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      <link:roleType roleURI="http://www.copytele.com/role/INVESTMENTSDetails" id="itus_r_INVESTMENTSDetails">
        <link:definition>031 - Disclosure - INVESTMENTS (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/AccountspayableandaccruedexpenseTable" id="itus_r_AccountspayableandaccruedexpenseTable">
        <link:definition>032 - Disclosure - ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - Accounts payable and accrued expense</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/NETLOSSPERSHAREOFCOMMONSTOCKDetails" id="itus_r_NETLOSSPERSHAREOFCOMMONSTOCKDetails">
        <link:definition>033 - Disclosure - NET LOSS PER SHARE OF COMMON STOCK (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/ReconciliationTable" id="itus_r_ReconciliationTable">
        <link:definition>034 - Disclosure -  NET LOSS PER SHARE OF COMMON STOCK (Details) - Reconciliation</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/INCOMETAXESDetails" id="itus_r_INCOMETAXESDetails">
        <link:definition>035 - Disclosure - INCOME TAXES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/COMMITMENTANDCONTINGENCESDetails" id="itus_r_COMMITMENTANDCONTINGENCESDetails">
        <link:definition>036 - Disclosure - COMMITMENT AND CONTINGENCES (Details)</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
      <link:roleType roleURI="http://www.copytele.com/role/DocumentAndEntityInformation" id="DocumentAndEntityInformation">
        <link:definition>000 - Disclosure - Document And Entity Information</link:definition>
        <link:usedOn>link:presentationLink</link:usedOn>
        <link:usedOn>link:definitionLink</link:usedOn>
        <link:usedOn>link:calculationLink</link:usedOn>
      </link:roleType>
    </xs:appinfo>
  </xs:annotation>
  <xs:import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd"/>
  <xs:import namespace="http://fasb.org/us-types/2015-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2015/elts/us-types-2015-01-31.xsd"/>
  <xs:import namespace="http://www.xbrl.org/dtr/type/numeric" schemaLocation="http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd"/>
  <xs:import namespace="http://www.xbrl.org/dtr/type/non-numeric" schemaLocation="http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd"/>
  <xs:import namespace="http://xbrl.org/2005/xbrldt" schemaLocation="http://www.xbrl.org/2005/xbrldt-2005.xsd"/>
  <xs:element name="InformationRegardingThe2003SharePlanAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_InformationRegardingThe2003SharePlanAbstract"/>
  <xs:element name="StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract"/>
  <xs:element name="InformationRegardingThe2010SharePlanAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_InformationRegardingThe2010SharePlanAbstract"/>
  <xs:element name="StockOptionsOutstandingUnder2010SharePlanAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockOptionsOutstandingUnder2010SharePlanAbstract"/>
  <xs:element name="InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract"/>
  <xs:element name="StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract"/>
  <xs:element name="HierarchyForFinancialAssetsMeasuredAtFairValueAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_HierarchyForFinancialAssetsMeasuredAtFairValueAbstract"/>
  <xs:element name="HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract"/>
  <xs:element name="ChangesInTheFairValueOfTheCompanysLevel3FinancialLiabilitiesMeasuredAtFairValueAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ChangesInTheFairValueOfTheCompanysLevel3FinancialLiabilitiesMeasuredAtFairValueAbstract"/>
  <xs:element name="AccountsPayableAndAccruedExpenseAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_AccountsPayableAndAccruedExpenseAbstract"/>
  <xs:element name="ReconciliationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ReconciliationAbstract"/>
  <xs:element name="TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract"/>
  <xs:element name="TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract0" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract0"/>
  <xs:element name="TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract00" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract00"/>
  <xs:element name="ReconciliationOfNetLossIncomeToNetCashUsedInProvidedByOperatingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ReconciliationOfNetLossIncomeToNetCashUsedInProvidedByOperatingActivitiesAbstract"/>
  <xs:element name="ChangeInOperatingAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract"/>
  <xs:element name="CashFlowsFromInvestingActivitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_CashFlowsFromInvestingActivitiesAbstract"/>
  <xs:element name="TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract000" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_TheAccompanyingNotesAreAnIntegralPartOfTheseCondensedConsolidatedFinancialStatementsAbstract000"/>
  <xs:element name="PatentAcquisitionObligationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationAbstract"/>
  <xs:element name="FiniteLivedPatentsNet" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_FiniteLivedPatentsNet"/>
  <xs:element name="RoyaltiesAndContingentLegalFeesPayable" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_RoyaltiesAndContingentLegalFeesPayable"/>
  <xs:element name="PatentAcquisitionObligation" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligation"/>
  <xs:element name="RevenueFromPatentAssertionActivities" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_RevenueFromPatentAssertionActivities"/>
  <xs:element name="LitigationAndLicensingExpenses" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_LitigationAndLicensingExpenses"/>
  <xs:element name="StockIssuedDuringPeriodValuePatentLicense" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_StockIssuedDuringPeriodValuePatentLicense"/>
  <xs:element name="StockIssuedDuringPeriodSharesPatentLicense" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockIssuedDuringPeriodSharesPatentLicense"/>
  <xs:element name="AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense"/>
  <xs:element name="IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable"/>
  <xs:element name="STOCKBASEDCOMPENSATIONTablesTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_STOCKBASEDCOMPENSATIONTablesTable"/>
  <xs:element name="STOCKBASEDCOMPENSATIONTablesLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_STOCKBASEDCOMPENSATIONTablesLineItems"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanTable"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanLineItems"/>
  <xs:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber"/>
  <xs:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" type="num:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice"/>
  <xs:element name="ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue"/>
  <xs:element name="ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable" type="xbrli:sharesItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable"/>
  <xs:element name="SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2" type="xbrli:durationItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2"/>
  <xs:element name="SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice" type="num:perShareItemType" abstract="false" xbrli:periodType="instant" nillable="true" substitutionGroup="xbrli:item" id="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanTable"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanLineItems"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanTable"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems"/>
  <xs:element name="FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueTable"/>
  <xs:element name="FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems"/>
  <xs:element name="FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueTable"/>
  <xs:element name="FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsTable" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrldt:hypercubeItem" id="itus_STOCKBASEDCOMPENSATIONDetailsTable"/>
  <xs:element name="STOCKBASEDCOMPENSATIONDetailsLineItems" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_STOCKBASEDCOMPENSATIONDetailsLineItems"/>
  <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="PatentAcquisitionObligationsDiscountedPresentValue" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="instant" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationsDiscountedPresentValue"/>
  <xs:element name="InterestExpensePatentAcquisitionObligations" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="debit" nillable="true" substitutionGroup="xbrli:item" id="itus_InterestExpensePatentAcquisitionObligations"/>
  <xs:element name="ConsultantMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ConsultantMember"/>
  <xs:element name="P2010SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_P2010SharePlanMember"/>
  <xs:element name="PatentAcquisitionObligationMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationMember"/>
  <xs:element name="RangeOfExercisePrices1350To1750Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1350To1750Member"/>
  <xs:element name="RangeOfExercisePrices179To925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices179To925Member"/>
  <xs:element name="RangeOfExercisePrices1875To2300Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1875To2300Member"/>
  <xs:element name="RangeOfExercisePrices258To556Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices258To556Member"/>
  <xs:element name="RangeOfExercisePrices258To925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices258To925Member"/>
  <xs:element name="RangeOfExercisePrices2925Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices2925Member"/>
  <xs:element name="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="p2003SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_p2003SharePlanMember"/>
  <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-20160131_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMEN
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Fri Feb 19 18:37:55 UTC 2016 -->
<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-20160131.xsd#itus_r_ConsolidatedIncomeStatement" roleURI="http://www.copytele.com/role/ConsolidatedIncomeStatement"/>
  <roleRef xlink:type="simple" xlink:href="itus-20160131.xsd#itus_r_ConsolidatedCashFlow" roleURI="http://www.copytele.com/role/ConsolidatedCashFlow"/>
  <roleRef xlink:type="simple" xlink:href="itus-20160131.xsd#itus_r_AccountspayableandaccruedexpenseTable" roleURI="http://www.copytele.com/role/AccountspayableandaccruedexpenseTable"/>
  <roleRef xlink:type="simple" xlink:href="itus-20160131.xsd#itus_r_ReconciliationTable" roleURI="http://www.copytele.com/role/ReconciliationTable"/>
  <calculationLink xlink:type="extended" xlink:role="http://www.copytele.com/role/ConsolidatedBalanceSheet">
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShortTermInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShortTermInvestments"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_ShortTermInvestments" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
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<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>9
<FILENAME>itus-20160131_def.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT
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  <definitionLink xlink:type="extended" xlink:role="http://www.copytele.com/role/INCOMETAXESDetails">
    <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"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LitigationSettlementAmount" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LitigationSettlementAmount"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_LitigationSettlementAmount" order="0" xbrldt:closed="true"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.copytele.com/role/COMMITMENTANDCONTINGENCESDetails">
    <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"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligationsDiscountedPresentValue" xlink:href="itus-20160131.xsd#itus_PatentAcquisitionObligationsDiscountedPresentValue"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="itus_PatentAcquisitionObligationsDiscountedPresentValue" order="0" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="itus_InterestExpensePatentAcquisitionObligations" xlink:href="itus-20160131.xsd#itus_InterestExpensePatentAcquisitionObligations"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="itus_InterestExpensePatentAcquisitionObligations" order="1" xbrldt:closed="true"/>
  </definitionLink>
  <definitionLink xlink:type="extended" xlink:role="http://www.copytele.com/role/DocumentAndEntityInformation">
    <loc xlink:type="locator" xlink:label="dei_DocumentInformationLineItems" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentInformationLineItems"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityRegistrantName"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityRegistrantName" order="0" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_TradingSymbol" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_TradingSymbol"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_TradingSymbol" order="1" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentType"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentType" order="2" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_CurrentFiscalYearEndDate" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_CurrentFiscalYearEndDate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_CurrentFiscalYearEndDate" order="3" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCommonStockSharesOutstanding" order="4" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityPublicFloat" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityPublicFloat"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityPublicFloat" order="5" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentFlag" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentFlag"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentFlag" order="6" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentDescription" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_AmendmentDescription"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_AmendmentDescription" order="7" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCentralIndexKey" order="8" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCurrentReportingStatus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCurrentReportingStatus"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityCurrentReportingStatus" order="9" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityVoluntaryFilers" order="10" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityFilerCategory" order="11" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_EntityWellKnownSeasonedIssuer" order="12" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentPeriodEndDate" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentPeriodEndDate"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentPeriodEndDate" order="13" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalYearFocus" order="14" xbrldt:closed="true"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalPeriodFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalPeriodFocus"/>
    <definitionArc xlink:type="arc" xlink:arcrole="http://xbrl.org/int/dim/arcrole/domain-member" xlink:from="dei_DocumentInformationLineItems" xlink:to="dei_DocumentFiscalPeriodFocus" order="15" xbrldt:closed="true"/>
  </definitionLink>
</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>itus-20160131_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABELS LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Fri Feb 19 18:37:55 UTC 2016 -->
<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#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel"/>
  <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"/>
  <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_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-20160131.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 $721,069 and $639,744, respectively</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FiniteLivedPatentsNet" xlink:to="itus_FiniteLivedPatentsNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization"/>
    <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>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_lbl"/>
    <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 $17,465 and $13,617, 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/terseLabel" 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"/>
    <loc xlink:type="locator" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:href="itus-20160131.xsd#itus_RoyaltiesAndContingentLegalFeesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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-20160131.xsd#itus_PatentAcquisitionObligation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_PatentAcquisitionObligation_lbl" xml:lang="en-US">Patent acquisition obligation (Note 9)</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 9)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockValue_lbl" xml:lang="en-US">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding, Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockValue" xlink:to="us-gaap_PreferredStockValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Equity Components [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockMember_lbl" xml:lang="en-US">Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockMember" xlink:to="us-gaap_PreferredStockMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_PreferredStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PreferredStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Preferred stock par value (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PreferredStockParOrStatedValuePerShare" xlink:to="us-gaap_PreferredStockParOrStatedValuePerShare_lbl"/>
    <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_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_StatementClassOfStockAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementClassOfStockAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementClassOfStockAxis_lbl" xml:lang="en-US">Class of Stock [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementClassOfStockAxis" xlink:to="us-gaap_StatementClassOfStockAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SeriesAPreferredStockMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SeriesAPreferredStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SeriesAPreferredStockMember_lbl" xml:lang="en-US">Series A Preferred Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SeriesAPreferredStockMember" xlink:to="us-gaap_SeriesAPreferredStockMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockValue" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,730,878 and 8,724,878 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_AdditionalPaidInCapitalCommonStock" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Accumulated deficit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">Total shareholders&#8217; equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl0" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">Total liabilities and shareholders&#8217; equity</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeStatementAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RevenueFromPatentAssertionActivities" xlink:href="itus-20160131.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_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-20160131.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 $112,495 and $491,779, respectively)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AllocatedShareBasedCompensationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllocatedShareBasedCompensationExpense_lbl" xml:lang="en-US">Non-cash Stock Option Compensation Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllocatedShareBasedCompensationExpense" xlink:to="us-gaap_AllocatedShareBasedCompensationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CostsAndExpenses" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CostsAndExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CostsAndExpenses_lbl" xml:lang="en-US">Total operating costs and expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CostsAndExpenses" xlink:to="us-gaap_CostsAndExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingIncomeLoss" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">(Loss) income from operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InterestExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InterestExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpense_lbl" xml:lang="en-US">Interest expense (Note 9)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpense" xlink:to="us-gaap_InterestExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentIncomeInterest" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_InvestmentIncomeInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl" xml:lang="en-US">(Loss) income before income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxExpenseBenefit" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Provision for income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetIncomeLoss" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">Net (loss) income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetIncomeLoss_lbl0" xml:lang="en-US">Net Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl1" xml:lang="en-US">Net (loss) income</label>
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    <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"/>
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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_StatementOfStockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement of Stockholders&apos; Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl"/>
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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"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl" xml:lang="en-US">Stock option compensation to employees and directors</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition" xlink:to="us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl" xml:lang="en-US">Common stock issued to consultants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodValueIssuedForServices_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl" xml:lang="en-US">Common stock issued to consultants (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, Issued for Services (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices" xlink:to="us-gaap_StockIssuedDuringPeriodSharesIssuedForServices_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedDuringPeriodValuePatentLicense" xlink:href="itus-20160131.xsd#itus_StockIssuedDuringPeriodValuePatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodValuePatentLicense_lbl" xml:lang="en-US">Common stock issued to acquire patents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodValuePatentLicense" xlink:to="itus_StockIssuedDuringPeriodValuePatentLicense_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense" xlink:href="itus-20160131.xsd#itus_StockIssuedDuringPeriodSharesPatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl" xml:lang="en-US">Common stock issued to acquire patents (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodSharesPatentLicense" xlink:to="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_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"/>
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    <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/label" xlink:label="us-gaap_StockOptionPlanExpense_lbl" xml:lang="en-US">Stock option compensation to employees, directors 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_Depreciation" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_Depreciation"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Depreciation_lbl" xml:lang="en-US">Depreciation of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Depreciation" xlink:to="us-gaap_Depreciation_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:href="itus-20160131.xsd#itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:to="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl"/>
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    <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_StockIssuedDuringPeriodValueAcquisitions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US">Common stock issued to acquire patent license</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherNoncashIncomeExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_OtherNoncashIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_OtherNoncashIncomeExpense_lbl" xml:lang="en-US">Other</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNoncashIncomeExpense" xlink:to="us-gaap_OtherNoncashIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInReceivables" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_IncreaseDecreaseInReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInReceivables_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_IncreaseDecreaseInReceivables" xlink:to="us-gaap_IncreaseDecreaseInReceivables_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"/>
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    <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"/>
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    <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-20160131.xsd#itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" 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_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 (used in) provided by 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 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"/>
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    <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"/>
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    <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_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
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    <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="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>
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    <loc xlink:type="locator" xlink:label="itus_p2003SharePlanMember" xlink:href="itus-20160131.xsd#itus_p2003SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_p2003SharePlanMember_lbl" xml:lang="en-US">2003 Share Plan [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_InformationRegardingThe2003SharePlanAbstract_lbl" xml:lang="en-US">Information regarding the 2003 Share Plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InformationRegardingThe2003SharePlanAbstract" xlink:to="itus_InformationRegardingThe2003SharePlanAbstract_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"/>
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    <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 at January 31, 2016</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">Options Outstanding at October 31, 2015</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, 2015</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 at January 31, 2016</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 at October 31, 2015</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_lbl1"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:href="itus-20160131.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 January 31, 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl0" xml:lang="en-US">Options Outstanding and exercisable at January 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:href="itus-20160131.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 January 31, 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Options Outstanding and exercisable at January 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:href="itus-20160131.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 January 31, 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl0" xml:lang="en-US">Options Outstanding and exercisable at January 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract" xlink:href="itus-20160131.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-20160131.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="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable" xlink:href="itus-20160131.xsd#itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable_lbl" xml:lang="en-US">Options Outstanding and Exercisable, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable" xlink:to="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2" xlink:href="itus-20160131.xsd#itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2" xlink:to="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice" xlink:href="itus-20160131.xsd#itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Outstanding and Exercisable, Weighted Average Exercise Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice" xlink:to="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Options Outstanding and Exercisable, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice" xlink:to="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices1350To1750Member" xlink:href="itus-20160131.xsd#itus_RangeOfExercisePrices1350To1750Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices1350To1750Member_lbl" xml:lang="en-US">Range Of Exercise Prices $13.50 To $17.50 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1350To1750Member" xlink:to="itus_RangeOfExercisePrices1350To1750Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices1875To2300Member" xlink:href="itus-20160131.xsd#itus_RangeOfExercisePrices1875To2300Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices1875To2300Member_lbl" xml:lang="en-US">Range Of Exercise Prices $18.75 To $23.00 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1875To2300Member" xlink:to="itus_RangeOfExercisePrices1875To2300Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices2925Member" xlink:href="itus-20160131.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>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices2925Member" xlink:to="itus_RangeOfExercisePrices2925Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_P2010SharePlanMember" xlink:href="itus-20160131.xsd#itus_P2010SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_P2010SharePlanMember_lbl" xml:lang="en-US">2010 Share Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_P2010SharePlanMember" xlink:to="itus_P2010SharePlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_InformationRegardingThe2010SharePlanAbstract" xlink:href="itus-20160131.xsd#itus_InformationRegardingThe2010SharePlanAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_InformationRegardingThe2010SharePlanAbstract_lbl" xml:lang="en-US">Information regarding the 2010 Share Plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InformationRegardingThe2010SharePlanAbstract" xlink:to="itus_InformationRegardingThe2010SharePlanAbstract_lbl"/>
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    <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 at January 31, 2016</label>
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    <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 January 31, 2016</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 January 31, 2016</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 January 31, 2016</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_StockOptionsOutstandingUnder2010SharePlanAbstract" xlink:href="itus-20160131.xsd#itus_StockOptionsOutstandingUnder2010SharePlanAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockOptionsOutstandingUnder2010SharePlanAbstract_lbl" xml:lang="en-US">Stock options outstanding under 2010 Share Plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsOutstandingUnder2010SharePlanAbstract" xlink:to="itus_StockOptionsOutstandingUnder2010SharePlanAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices258To925Member" xlink:href="itus-20160131.xsd#itus_RangeOfExercisePrices258To925Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices258To925Member_lbl" xml:lang="en-US">Range Of Exercise Prices $2.58 To $9.25 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices258To925Member" xlink:to="itus_RangeOfExercisePrices258To925Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl" xml:lang="en-US">Options Outstanding, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions" xlink:to="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions_lbl"/>
    <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/label" 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/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl" 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_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions_lbl" xml:lang="en-US">Options Exercisable, Number</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_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl" xml:lang="en-US">Options Exercisable,Weighted Average Remaining Contractual Life</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_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl" xml:lang="en-US">Options Exercisable,Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" xlink:href="itus-20160131.xsd#itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_lbl" 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_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract" xlink:href="itus-20160131.xsd#itus_InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract_lbl" xml:lang="en-US">Information regarding Stock options granted not under 2003 Share Plan and 2010 Share Plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract" xlink:to="itus_InformationRegardingStockOptionsGrantedNotUnder2003SharePlanAnd2010SharePlanAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract" xlink:href="itus-20160131.xsd#itus_StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract_lbl" xml:lang="en-US">Stock options outstanding not under 2003 Share Plan and 2010 Share Plan [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract" xlink:to="itus_StockOptionsOutstandingNotUnder2003SharePlanAnd2010SharePlanAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_RangeOfExercisePrices258To556Member" xlink:href="itus-20160131.xsd#itus_RangeOfExercisePrices258To556Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices258To556Member_lbl" xml:lang="en-US">Range Of Exercise Prices $2.58 To $5.56 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices258To556Member" xlink:to="itus_RangeOfExercisePrices258To556Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueDisclosuresAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueDisclosuresAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresAbstract_lbl" xml:lang="en-US">Fair Value Disclosures [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresAbstract" xlink:to="us-gaap_FairValueDisclosuresAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_HierarchyForFinancialAssetsMeasuredAtFairValueAbstract" xlink:href="itus-20160131.xsd#itus_HierarchyForFinancialAssetsMeasuredAtFairValueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_HierarchyForFinancialAssetsMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Hierarchy for financial assets measured at fair value [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_HierarchyForFinancialAssetsMeasuredAtFairValueAbstract" xlink:to="itus_HierarchyForFinancialAssetsMeasuredAtFairValueAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueByAssetClassAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByAssetClassAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByAssetClassAxis_lbl" xml:lang="en-US">Asset Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByAssetClassAxis" xlink:to="us-gaap_FairValueByAssetClassAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashEquivalentsMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CashEquivalentsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashEquivalentsMember_lbl" xml:lang="en-US">Cash Equivalents [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashEquivalentsMember" xlink:to="us-gaap_CashEquivalentsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsFairValueDisclosureRecurring" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_AssetsFairValueDisclosureRecurring"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsFairValueDisclosureRecurring_lbl" xml:lang="en-US">Financial assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsFairValueDisclosureRecurring" xlink:to="us-gaap_AssetsFairValueDisclosureRecurring_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CertificatesOfDepositMember" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_CertificatesOfDepositMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CertificatesOfDepositMember_lbl" xml:lang="en-US">Certificates of Deposit [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CertificatesOfDepositMember" xlink:to="us-gaap_CertificatesOfDepositMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByFairValueHierarchyLevelAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl" xml:lang="en-US">Fair Value, Hierarchy [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByFairValueHierarchyLevelAxis" xlink:to="us-gaap_FairValueByFairValueHierarchyLevelAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel1Member" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel1Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel1Member_lbl" xml:lang="en-US">Fair Value, Inputs, Level 1 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel1Member" xlink:to="us-gaap_FairValueInputsLevel1Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel2Member" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel2Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel2Member_lbl" xml:lang="en-US">Fair Value, Inputs, Level 2 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel2Member" xlink:to="us-gaap_FairValueInputsLevel2Member_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueInputsLevel3Member" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueInputsLevel3Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueInputsLevel3Member_lbl" xml:lang="en-US">Fair Value, Inputs, Level 3 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueInputsLevel3Member" xlink:to="us-gaap_FairValueInputsLevel3Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract" xlink:href="itus-20160131.xsd#itus_HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract_lbl" xml:lang="en-US">Hierarchy for financial liabilities measured at fair value [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract" xlink:to="itus_HierarchyForFinancialLiabilitiesMeasuredAtFairValueAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueByLiabilityClassAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_FairValueByLiabilityClassAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueByLiabilityClassAxis_lbl" xml:lang="en-US">Liability Class [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueByLiabilityClassAxis" xlink:to="us-gaap_FairValueByLiabilityClassAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligationMember" xlink:href="itus-20160131.xsd#itus_PatentAcquisitionObligationMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_PatentAcquisitionObligationMember_lbl" 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_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:href="http://xbrl.fasb.org/us-gaap/2015/elts/us-gaap-2015-01-31.xsd#us-gaap_LiabilitiesFairValueDisclosureRecurring"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesFairValueDisclosureRecurring_lbl" xml:lang="en-US">Financial Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesFairValueDisclosureRecurring" xlink:to="us-gaap_LiabilitiesFairValueDisclosureRecurring_lbl"/>
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    <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"/>
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    <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_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.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_FiniteLivedPatentsNet" xlink:to="itus_FiniteLivedPatentsNet_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_InterestExpensePatentAcquisitionObligations_lbl0" xml:lang="en-US">Interest expense recorded during the period for the accretion of interest on patent acquisition obligations.</label>
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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>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LitigationAndLicensingExpenses" xlink:to="itus_LitigationAndLicensingExpenses_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PatentAcquisitionObligation_lbl0" xml:lang="en-US">Obligation related to patent acquisition.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligation" xlink:to="itus_PatentAcquisitionObligation_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_PatentAcquisitionObligationsDiscountedPresentValue_lbl0" xml:lang="en-US">Discounted present value of patent acquisition obligations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligationsDiscountedPresentValue" xlink:to="itus_PatentAcquisitionObligationsDiscountedPresentValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_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_RoyaltiesAndContingentLegalFeesPayable_lbl0" xml:lang="en-US">Royalties and contingent legal fees payable.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl1" xml:lang="en-US">Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding and exercisable.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl1" 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_lbl1" xml:lang="en-US">Weighted average price per share at which the shares are outstanding and exercisable under the stock option plan.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable_lbl0" xml:lang="en-US">The number of shares reserved for issuance or issued but not exercised pertaining to the outstanding and exercisable stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice_lbl1" xml:lang="en-US">The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding and exercisable stock options which are in the customized range of exercise prices.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl0" xml:lang="en-US">Weighted average remaining contractual term of outstanding and exercisable stock options, in &apos;PnYnMnDTnHnMnS&apos; format, for example, &apos;P1Y5M13D&apos; represents the reported fact of one year, five months, and thirteen days.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl0" xml:lang="en-US">Common stock issued to acquire patent license.</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="itus_StockIssuedDuringPeriodValuePatentLicense_lbl0" xml:lang="en-US">Common stock issued to acquire patent license.</label>
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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_P2010SharePlanMember_lbl0" xml:lang="en-US">P2010 Share Plan [Member]</label>
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    <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_RangeOfExercisePrices1350To1750Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 1350 To 1750 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1350To1750Member" xlink:to="itus_RangeOfExercisePrices1350To1750Member_lbl0"/>
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    <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_RangeOfExercisePrices1875To2300Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 1875 To 2300 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices1875To2300Member" xlink:to="itus_RangeOfExercisePrices1875To2300Member_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RangeOfExercisePrices258To556Member_lbl0" xml:lang="en-US">Range Of Exercise Prices 258 To 556 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices258To556Member" xlink:to="itus_RangeOfExercisePrices258To556Member_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_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_p2003SharePlanMember_lbl0" xml:lang="en-US">p 2003 Share Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_p2003SharePlanMember" xlink:to="itus_p2003SharePlanMember_lbl0"/>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>itus-20160131_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6790683376">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - shares<br></strong></div></th>
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<td class="text">Q1<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other".</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCurrentReportingStatus">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCurrentReportingStatus</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFilerCategory">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFilerCategory</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:filerCategoryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityVoluntaryFilers">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityVoluntaryFilers</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityWellKnownSeasonedIssuer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityWellKnownSeasonedIssuer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:yesNoItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_DocumentAndEntityInformationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_DocumentAndEntityInformationAbstract</td>
</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>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791229264">
<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>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">$ 3,980,826<span></span>
</td>
<td class="nump">$ 4,369,219<span></span>
</td>
</tr>
<tr class="re">
<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">2,150,000<span></span>
</td>
<td class="nump">2,400,000<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_PrepaidExpenseAndOtherAssetsCurrent', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">55,774<span></span>
</td>
<td class="nump">126,528<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_AssetsCurrent', window );">Total current assets</a></td>
<td class="nump">6,186,600<span></span>
</td>
<td class="nump">6,895,747<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_FiniteLivedPatentsNet', window );">Patents, net of accumulated amortization of $721,069 and $639,744, respectively</a></td>
<td class="nump">2,315,042<span></span>
</td>
<td class="nump">2,396,367<span></span>
</td>
</tr>
<tr class="re">
<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 $17,465 and $13,617, respectively</a></td>
<td class="nump">145,620<span></span>
</td>
<td class="nump">43,456<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_Assets', window );">Total assets</a></td>
<td class="nump">8,647,262<span></span>
</td>
<td class="nump">9,335,570<span></span>
</td>
</tr>
<tr class="re">
<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="ro">
<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">1,036,218.00<span></span>
</td>
<td class="nump">380,765<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_RoyaltiesAndContingentLegalFeesPayable', window );">Royalties and contingent legal fees payable</a></td>
<td class="nump">207,789<span></span>
</td>
<td class="nump">213,017<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_LiabilitiesCurrent', window );">Total current liabilities</a></td>
<td class="nump">1,244,007<span></span>
</td>
<td class="nump">593,782<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_PatentAcquisitionObligation', window );">Patent acquisition obligation (Note 9)</a></td>
<td class="nump">3,812,088<span></span>
</td>
<td class="nump">3,688,187<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_Liabilities', window );">Total liabilities</a></td>
<td class="nump">$ 5,056,095<span></span>
</td>
<td class="nump">$ 4,281,969<span></span>
</td>
</tr>
<tr class="re">
<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 9)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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="re">
<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 $100 per share; 140 shares issued and outstanding</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 14,000<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_CommonStockValue', window );">Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,730,878 and 8,724,878 shares issued and outstanding, respectively</a></td>
<td class="nump">87,309<span></span>
</td>
<td class="nump">87,249<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">151,231,712<span></span>
</td>
<td class="nump">151,101,117<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Accumulated deficit</a></td>
<td class="num">(147,741,854)<span></span>
</td>
<td class="num">(146,148,765)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders&#8217; equity</a></td>
<td class="nump">3,591,167<span></span>
</td>
<td class="nump">5,053,601<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">Total liabilities and shareholders&#8217; equity</a></td>
<td class="nump">$ 8,647,262<span></span>
</td>
<td class="nump">$ 9,335,570<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_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="re">
<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 $100 per share; 140 shares issued and outstanding</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Total shareholders&#8217; equity</a></td>
<td class="nump">$ 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="ro">
<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="re">
<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 $100 per share; 140 shares issued and outstanding</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 14,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net carrying amount after accumulated amortization as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FiniteLivedPatentsNet</td>
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<td>xbrli:monetaryItemType</td>
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<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>Obligation related to patent acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_PatentAcquisitionObligation</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19,20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.30(a)(1))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 31<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 12<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6801-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.(a),19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14326-108349<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.17)<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.32)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 25<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesAndStockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseAndOtherAssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 8<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseAndOtherAssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.13)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 13<br> -Subparagraph a<br> -Article 5<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 8<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cumulative amount of the reporting entity's undistributed earnings or deficit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.31(a)(3))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Article 3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Investments which are intended to be sold in the short term (usually less than one year or the normal operating cycle, whichever is longer) including trading securities, available-for-sale securities, held-to-maturity securities, and other short-term investments not otherwise listed in the existing taxonomy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 1<br> -Subparagraph g<br> -Article 7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</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_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6784145584">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Patents, accumulated amortization (in Dollars)</a></td>
<td class="nump">$ 721,069<span></span>
</td>
<td class="nump">$ 639,744<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 17,465<span></span>
</td>
<td class="nump">$ 13,617<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">8,730,878<span></span>
</td>
<td class="nump">8,724,878<span></span>
</td>
</tr>
<tr class="ro">
<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">8,730,878<span></span>
</td>
<td class="nump">8,724,878<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember', window );">Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock par value (in Dollars per share)</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesAuthorized', window );">Preferred stock, shares authorized</a></td>
<td class="nump">19,860<span></span>
</td>
<td class="nump">19,860<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="nump">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="re">
<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">0<span></span>
</td>
<td class="nump">0<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember', window );">Series A Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockParOrStatedValuePerShare', window );">Preferred stock par value (in Dollars per share)</a></td>
<td class="nump">$ 100<span></span>
</td>
<td class="nump">$ 100<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesIssued', window );">Preferred stock, shares issued</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">140<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PreferredStockSharesOutstanding', window );">Preferred stock, shares outstanding</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">140<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6391035&amp;loc=d3e2868-110229<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.14)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 30<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesAuthorized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PreferredStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.28)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 02<br> -Paragraph 29<br> -Article 5<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PreferredStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791328240">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenue:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_RevenueFromPatentAssertionActivities', window );">Revenue from licensing activities</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 135,000<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_RevenueFromRelatedParties', window );">Settlement with AU Optronics Corporation</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">9,000,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SalesRevenueNet', window );">Total revenue</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">9,135,000<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_OperatingCostsAndExpensesAbstract', window );"><strong>Operating costs and expenses:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text"> <span></span>
</td>
<td class="nump">88,877<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_LitigationAndLicensingExpenses', window );">Litigation and licensing expense</a></td>
<td class="nump">$ 59,641<span></span>
</td>
<td class="nump">3,334,702<span></span>
</td>
</tr>
<tr class="ro">
<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">81,324<span></span>
</td>
</tr>
<tr class="re">
<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 $112,495 and $491,779, respectively)</a></td>
<td class="nump">1,331,474<span></span>
</td>
<td class="nump">1,773,368<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CostsAndExpenses', window );">Total operating costs and expenses</a></td>
<td class="nump">1,472,439<span></span>
</td>
<td class="nump">5,278,271<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">(Loss) income from operations</a></td>
<td class="num">(1,472,439)<span></span>
</td>
<td class="nump">3,856,729<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense (Note 9)</a></td>
<td class="num">(123,901)<span></span>
</td>
<td class="num">(109,186)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="nump">3,251<span></span>
</td>
<td class="nump">4,677<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments', window );">(Loss) income before income taxes</a></td>
<td class="num">$ (1,593,089)<span></span>
</td>
<td class="nump">$ 3,752,220<span></span>
</td>
</tr>
<tr class="re">
<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"> <span></span>
</td>
<td class="text"> <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">$ (1,593,089)<span></span>
</td>
<td class="nump">$ 3,752,220<span></span>
</td>
</tr>
<tr class="re">
<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>
</tr>
<tr class="ro">
<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">$ 0.43<span></span>
</td>
</tr>
<tr class="re">
<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">$ 0.41<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average common shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in Shares)</a></td>
<td class="nump">8,727,035<span></span>
</td>
<td class="nump">8,788,375<span></span>
</td>
</tr>
<tr class="ro">
<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">8,727,035<span></span>
</td>
<td class="nump">9,251,535<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>
<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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AmortizationOfIntangibleAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
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</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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>
<tr>
<td><strong> Period Type:</strong></td>
<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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 55<br> -Paragraph 52<br> -URI http://asc.fasb.org/extlink&amp;oid=32703322&amp;loc=d3e4984-109258<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.23)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_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_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.21)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1252-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 18<br> -Article 7<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 20<br> -Article 5<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 21<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_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_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h)(1)(i))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a),(b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6907707&amp;loc=d3e32639-109319<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Income Tax Expense (or Benefit)<br> -URI http://asc.fasb.org/extlink&amp;oid=6515339<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxExpenseBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the cost of borrowed funds accounted for as interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 835<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6450988&amp;loc=d3e26243-108391<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04.9)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.7(b))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The 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">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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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>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyExpense</td>
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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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 330<br> -SubTopic 10<br> -Section 30<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=51677171&amp;loc=d3e3636-108311<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
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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>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</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>
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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>
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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>
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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 [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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<tr>
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<td>us-gaap_</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6781339712">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Non-cash Stock Option Compensation Expenses</a></td>
<td class="nump">$ 112,495<span></span>
</td>
<td class="nump">$ 491,779<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB TOPIC 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br> -Section F<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791035024">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY - 3 months ended Jan. 31, 2016 - USD ($)<br></strong></div></th>
<th class="th"><div>Preferred Stock [Member]</div></th>
<th class="th"><div>Common Stock [Member]</div></th>
<th class="th"><div>Additional Paid-in Capital [Member]</div></th>
<th class="th"><div>Retained Earnings [Member]</div></th>
<th class="th"><div>Total</div></th>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Oct. 31, 2015</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,249<span></span>
</td>
<td class="nump">$ 151,101,117<span></span>
</td>
<td class="num">$ (146,148,765)<span></span>
</td>
<td class="nump">$ 5,053,601<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance (in Shares) at Oct. 31, 2015</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">8,724,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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 directors</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112,495<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">112,495<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 20<span></span>
</td>
<td class="nump">6,340<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,360<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices', window );">Common stock issued to consultants (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedDuringPeriodValuePatentLicense', window );">Common stock issued to acquire patents</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 40<span></span>
</td>
<td class="nump">11,760<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">11,800<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_StockIssuedDuringPeriodSharesPatentLicense', window );">Common stock issued to acquire patents (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_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">(1,593,089)<span></span>
</td>
<td class="num">(1,593,089)<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 Jan. 31, 2016</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,309<span></span>
</td>
<td class="nump">$ 151,231,712<span></span>
</td>
<td class="num">$ (147,741,854)<span></span>
</td>
<td class="nump">$ 3,591,167<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 Jan. 31, 2016</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">8,730,878<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedDuringPeriodSharesPatentLicense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common stock issued to acquire patent license.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedDuringPeriodSharesPatentLicense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_StockIssuedDuringPeriodValuePatentLicense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Common stock issued to acquire patent license.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_StockIssuedDuringPeriodValuePatentLicense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This element represents the amount of recognized equity-based compensation related to stock options during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharesIssued">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharesIssued</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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_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_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 310<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB TOPIC 4.E)<br> -URI http://asc.fasb.org/extlink&amp;oid=27010918&amp;loc=d3e74512-122707<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 4<br> -Section E<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6791072352">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ReconciliationOfNetLossIncomeToNetCashUsedInProvidedByOperatingActivitiesAbstract', window );"><strong>Reconciliation of net (loss) income to net cash (used in) provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net (loss) income</a></td>
<td class="num">$ (1,593,089)<span></span>
</td>
<td class="nump">$ 3,752,220<span></span>
</td>
</tr>
<tr class="re">
<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, directors and consultants</a></td>
<td class="nump">112,495<span></span>
</td>
<td class="nump">491,779<span></span>
</td>
</tr>
<tr class="ro">
<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">6,360<span></span>
</td>
<td class="nump">4,000<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_Depreciation', window );">Depreciation of property and equipment</a></td>
<td class="nump">3,849<span></span>
</td>
<td class="nump">1,021<span></span>
</td>
</tr>
<tr class="ro">
<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">81,324<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">123,901<span></span>
</td>
<td class="nump">$ 109,186<span></span>
</td>
</tr>
<tr class="ro">
<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="nump">$ 11,800<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncomeExpense', window );">Other</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 6,635<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ChangeInOperatingAssetsAndLiabilitiesAbstract', window );"><strong>Change in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInReceivables', window );">Accounts receivable</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">355,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">$ 70,754<span></span>
</td>
<td class="num">(5,922)<span></span>
</td>
</tr>
<tr class="re">
<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="nump">655,453<span></span>
</td>
<td class="nump">152,219<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">(5,228)<span></span>
</td>
<td class="num">(294,368)<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_NetCashProvidedByUsedInOperatingActivities', window );">Net cash (used in) provided by operating activities</a></td>
<td class="num">(532,381)<span></span>
</td>
<td class="nump">4,653,094<span></span>
</td>
</tr>
<tr 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_CashFlowsFromInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">(250,000)<span></span>
</td>
<td class="num">(650,000)<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_ProceedsFromSaleOfShortTermInvestments', window );">Proceeds from maturities of short-term investments in certificates of deposit</a></td>
<td class="nump">500,000<span></span>
</td>
<td class="nump">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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments for purchases of property and equipment</a></td>
<td class="num">(106,012)<span></span>
</td>
<td class="num">(54,776)<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">143,988<span></span>
</td>
<td class="num">(204,776)<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 (decrease) increase in cash and cash equivalents</a></td>
<td class="num">(388,393)<span></span>
</td>
<td class="nump">4,448,318<span></span>
</td>
</tr>
<tr class="ro">
<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">4,369,219<span></span>
</td>
<td class="nump">3,361,246<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents at end of period</a></td>
<td class="nump">$ 3,980,826<span></span>
</td>
<td class="nump">$ 7,809,564<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Accretion of interest on patent acquisition obligations to interest expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<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 );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_CashFlowsFromInvestingActivitiesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ChangeInOperatingAssetsAndLiabilitiesAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred for royalties and legal fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_ReconciliationOfNetLossIncomeToNetCashUsedInProvidedByOperatingActivitiesAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6676-107765<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3044-108585<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Depreciation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Depreciation</td>
</tr>
<tr>
<td style="padding-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_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 total amount due within one year (or one operating cycle) from all parties, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Net Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831255<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.19)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.18)<br> -URI http://asc.fasb.org/extlink&amp;oid=26872669&amp;loc=d3e20235-122688<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04.22)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879464&amp;loc=d3e573970-122913<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 03<br> -Paragraph 19<br> -Article 5<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 04<br> -Paragraph 20<br> -Article 9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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;">
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<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>
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<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>
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<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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6603706672">
<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">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</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>
</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_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock', window );">Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]</a></td>
<td class="text"><p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:-2px">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>BUSINESS&nbsp;AND&nbsp;FUNDING</u></p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; CLEAR:left; MARGIN-TOP:0px"><u>Description of Business</u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">As used herein, <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>we,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>us,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>our,<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> or <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ITUS<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font> means ITUS Corporation and its wholly-owned subsidiaries. &nbsp;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption. &nbsp;In October of 2012 under the leadership of a new management team, the Company undertook a transformation process to recapitalize the Company, unencumber the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s assets, seek reparations from a previous joint development partner, change the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s name and ticker symbol, relocate the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s headquarters and modernize its systems, and monetize patented technologies developed by the Company, or acquired from third parties. In July of 2015, the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s stock was accepted for listing and began trading on the NASDAQ Capital Market. </p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 48px;" align="justify">In June of 2015, the Company announced the formation of a new subsidiary, Anixa Diagnostics Corporation, to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, Anixa entered into a collaborative research agreement &nbsp;with The Wistar Institute, the nation<font style="font-family: Arial Unicode MS,Times New Roman;">&#x2019;</font>s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating Anixa<font style="font-family: Arial Unicode MS,Times New Roman;">&#x2019;</font>s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by Anixa and associated with solid tumors. In October of 2015, Anixa and Wistar announced favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by Anixa, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted. &nbsp;&nbsp;</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Over the next several quarters, we expect Anixa to be the primary focus of the Company. As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s thin-film display technologies which was discontinued in February 2016, and through certain of its subsidiary companies, the Company remains engaged in limited patent licensing activities in the areas of encryption, and advanced materials. &nbsp;We do not expect these activities to be a significant part of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s ongoing operations.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Over the past several quarters, our revenue has been derived from technology licensing and the sale of patented technologies, including in connection with the settlement of litigation. In addition to Anixa, the Company expects to make investments in and form new companies to develop additional emerging technologies.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>AUO Lawsuit and Settlement</u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px" align="justify"><font style="BACKGROUND-COLOR:#ffffff">On December 29, 2014, the Company and AU Optronics Corporation (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>AUO<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) entered into a Settlement Agreement, 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<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>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 Securities and Exchange Commission (the <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>SEC<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) December 23, 2015.</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px"><u>Funding and Management<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s Plans</u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">During the three months ended January 31, 2016, cash used in operating activities was approximately $532,000. &nbsp;Net cash provided by investing activities was approximately $144,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $500,000, which was offset by the purchase&nbsp;of certificates of deposit totaling $250,000 and the purchase of property and equipment of approximately $106,000. &nbsp;As a result, our cash, cash equivalents and short-term investments at January 31, 2016 decreased by approximately $638,000 to approximately $6,131,000 from approximately $6,769,000 at the end of fiscal year 2015.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="BACKGROUND-COLOR:#ffffff">Based on currently available information as of February 19, 2016, we believe that our existing cash, cash equivalents, short-term investments and expected cash flows will be sufficient to enable us to continue our business activities for at least 12 months.&nbsp; However, our projections of future cash needs and cash flows may differ from actual results. &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, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&nbsp; The sale of additional equity securities or convertible debt could result in dilution to our stockholders. Additionally, the sale of equity securities or issuance of debt securities may be subject to certain security holder approvals or may result in downward adjustment of the exercise or conversion price of our outstanding securities. We can give no assurance that we will generate sufficient cash flows in the future to satisfy our liquidity requirements or sustain future operations, or that other sources of funding, such as sales of equity or debt, would be available or would be approved by our security holders, if needed, on favorable terms or at all.&nbsp; If we cannot obtain such funding if needed or if we cannot sufficiently reduce operating expenses, we would need to curtail or cease some or all of our operations.&nbsp;</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="BACKGROUND-COLOR:#ffffff"><u>Reverse Stock Split</u></font></p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 54px;" align="justify"><font style="background-color: #ffffff;">On June 26, 2015, we effected a 1-for-25 reverse stock split (the <font style="font-family: Arial Unicode MS,Times New Roman;">&#x201c;</font>Stock Split<font style="font-family: Arial Unicode MS,Times New Roman;">&#x201d;</font>) of our issued common stock and preferred stock. Each shareholders<font style="font-family: Arial Unicode MS,Times New Roman;">&#x2019;</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.</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Basis of Presentation</u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">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, 2015, as reported by us in our Annual Report on Form 10-K filed with the SEC on December 23, 2015. &nbsp;The October 31, 2015 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 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>US GAAP<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &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 January 31, 2016, and results of operations and cash flows for the interim periods represented. &nbsp;The results of operations for the three months ended January 31, 2016 are not necessarily indicative of the results to be expected for the entire year.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Revenue Recognition</u> </p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 0px;" align="justify"><font style="text-decoration: underline;">Patent Licensing</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In certain instances, our past revenue arrangements have provided for the payment of contractually determined fees in settlement of litigation and in consideration for the grant of certain intellectual property rights for patented technologies owned or controlled by the Company.&nbsp;&nbsp;These arrangements typically include some combination of the following:&nbsp;&nbsp;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we had no further obligations. &nbsp;&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Intangible Assets</u></p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 48px;" align="justify">Our only identifiable intangible assets are patents and patent rights. &nbsp;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life. We did not capitalize any patent acquisition costs during the three months ended January 31, 2016 and 2015. We recorded patent amortization expense of approximately $81,000 and $81,000 during the three months ended January 31, 2016 and 2015, respectively.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778251856">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td class="text"><p style="font-size: 12pt; margin: 0px; text-indent: -2px;" align="justify">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">STOCK BASED COMPENSATION</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">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><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Stock Option Compensation Expense </u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The compensation cost for stock options granted to employees and directors is measured at the grant date, based on the fair value of the award using the Black-Scholes pricing model, and is recognized as an expense, on a straight-line basis, over the requisite service period (the vesting period of the stock option) which is one to ten years. We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $112,000 and $543,000 during the three months ended January 31, 2016 and 2015, respectively. </p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The compensation cost for stock options granted to consultants is measured based on fair value at each reporting period, using the Black-Scholes pricing model, and is recognized as an expense over the requisite service period of the grant. We recorded stock-based compensation expense, related to stock options granted to consultants, of approximately $-0- and $(51,000) during the three months ended January 31, 2016 and 2015, respectively. </p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Stock Option Activity </u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We did not grant any stock options during the three months ended January 31, 2016. During the three months ended January 31, 2015, we granted options to purchase 52,000 shares of common stock at an exercise price of $2.80 per share pursuant to the ITUS Corporation 2010 Share Incentive Plan (the "2010 Share Plan<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;&nbsp;During the three months ended January 31, 2016 and 2015, no stock options to purchase shares of common stock were exercised.</p><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px"><u>Stock&nbsp;Option&nbsp;Plans</u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">As of January 31, 2016, 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><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The 2003 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees, directors 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. &nbsp;Information regarding the 2003 Share Plan for the three months ended January 31, 2016 is as follows:</p><br/><table style="width: 697px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

    <tr style="height: 13.5pt;">
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="328">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="85">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="18">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="22">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="18"><p align="center">&nbsp;</p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.15pt; height: 13.5pt;" colspan="2" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Aggregate</font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="328"><p align="center">&nbsp;</p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="85"><p align="center">&nbsp;</p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="18"><p align="center">&nbsp;</p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="22"><p align="center">&nbsp;</p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Weighted Average Exercise</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="18"><p align="center">&nbsp;</p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.15pt; height: 13.5pt;" colspan="2" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Intrinsic </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="328"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Shares</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="18"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 16.75pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
     <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 84.05pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Price Per Share</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="18"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 84.15pt; height: 13.5pt;" colspan="2" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Value</font></p></td>
    </tr>
    <tr style="height: 14.3pt;">
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="328"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding at October 31, 2015</font></p></td>
     <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">366,200</font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="18"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">17.86 </font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="18"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="90"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
    </tr>
    <tr style="height: 15.05pt;">
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="328"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding and exercisable at&nbsp; January 31, 2016</font></p></td>
     <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">366,200</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="18">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">17.86 </font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="18">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="90"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">20,237 </font></p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of January 31, 2016: </p><br/><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 214pt; height: 12.75pt;" valign="bottom" width="285" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Outstanding</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Range of</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">and</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Exercise Prices</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercisable</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$&nbsp; </font><font style="font-size: small;">1.79 - $</font><font style="font-size: small;">&nbsp; </font><font style="font-size: small;">7.75</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">73,880</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">1.50</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2.91 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$13.50 - $17.50</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">59,600</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">1.08 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">16.75 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$18.75 - $23.00</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">192,720</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">.88 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">21.57 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$29.25 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">40,000</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">1.56 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">29.25 </font></p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The 2010 Share Plan provides for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees, directors and consultants. &nbsp;As of January 31, 2016, the 2010 Share Plan had 988,955 shares available for future grants. &nbsp;Information regarding the 2010 Share Plan for the three months ended January 31, 2016 is as follows: </p><br/><table style="width: 645px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

       <tr style="height: 13.1pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="256">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="88">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="20">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Weighted</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="131"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Aggregate</font></p></td>
       </tr>
       <tr style="height: 13.1pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="256">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="88">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="20">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Average Exercise</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="131"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Intrinsic</font></p></td>
       </tr>
       <tr style="height: 13.1pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="256">&nbsp;</td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 87.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Price Per Share</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 98.4pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="131"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Value</font></p></td>
       </tr>
       <tr style="height: 13.9pt;">
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="256"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding at October 31, 2015</font></p></td>
        <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">526,272</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">3.33 </font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="110"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       </tr>
       <tr style="height: 14.6pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="256"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding&nbsp; at January 31, 2016</font></p></td>
        <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">526,272</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">3.33 </font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="110"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">149,942 </font></p></td>
       </tr>
       <tr style="height: 14.6pt;">
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="256"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Exercisable at January 31, 2016</font></p></td>
        <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">447,318</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">3.33 </font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="110"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">124,197 </font></p></td>
       </tr>

     </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="left">The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of January 31, 2016:</p><br/><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 83pt; height: 12.75pt;" valign="bottom" width="110" height="17">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 249pt;" colspan="3" valign="bottom" width="330"><p align="center"><font style="font-size: small;">Options Outstanding&nbsp;</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 275pt;" colspan="3" valign="bottom" width="365"><p align="center"><font style="font-size: small;">Options Exercisable</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Range of</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life&nbsp;</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Exercise Prices</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Outstanding</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercisable</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$2.58 - $9.25</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">526,272</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">6.72</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$3.33 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">447,318</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">6.51</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$3.33 </font></p></td>
    </tr>
    <tr style="height: 10.00pt;">
     <td style="border: 0px currentColor; height: 10.00pt;" height="10">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;"><p align="right"><font style="font-size: small; display: none;">.</font></p></td>
    </tr>

  </table><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">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 three months ended January 31, 2016 is as follows: </p><br/><table style="width: 709px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

      <tr style="height: 13.65pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="353">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="85">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="21">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Weighted</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;" colspan="2" valign="bottom" nowrap="nowrap" width="104"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Aggregate</font></p></td>
      </tr>
      <tr style="height: 13.65pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="353">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="85">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="21">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Average Exercise</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;" colspan="2" valign="bottom" nowrap="nowrap" width="104"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Intrinsic</font></p></td>
      </tr>
      <tr style="height: 13.65pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="353">&nbsp;</td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Shares</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 83.6pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Price Per Share</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 78.2pt; height: 13.65pt;" colspan="2" valign="bottom" nowrap="nowrap" width="104"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Value</font></p></td>
      </tr>
      <tr style="height: 14.45pt;">
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="353"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding at October 31, 2015</font></p></td>
       <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">1,780,000</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2.70 </font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="83"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
      </tr>
      <tr style="height: 15.3pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="353"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding&nbsp; and exercisable at January 31, 2015</font></p></td>
       <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">1,780,000</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2.70 </font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="83"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">619,600 </font></p></td>
      </tr>

    </table><br/><p style="MARGIN-BOTTOM:16px; FONT-SIZE:12pt; MARGIN-TOP:0px; TEXT-INDENT:48px" align="justify">The following table summarizes information about stock options outstanding and exercisable that were not granted under the 2003 Share Plan or the 2010 Share Plan as of January 31, 2016:</p><br/><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 135pt; height: 12.75pt;" valign="bottom" width="180" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 135pt;" valign="bottom" width="180"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor; width: 135pt;" valign="bottom" width="180"><p align="center"><font style="font-size: small;">Weighted Average</font></p></td>
     <td style="border: 0px currentColor; width: 135pt;" valign="bottom" width="180"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Outstanding</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Range of</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">and</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Exercise Prices</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercisable</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$2.58-$5.56</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">1,780,000</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">6.51</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$2.70 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px none currentcolor; text-align: right; display: none;">&nbsp;.</td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Stock Awards </u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We account for stock awards granted to employees and consultants based on the grant date market price of the underlying common stock. &nbsp;During the three months ended January 31, 2016 and 2015, we issued 2,000 shares and 800 shares, respectively, of common stock to consultants for services rendered. &nbsp;We recorded consulting expense for the three months ended January 31, 2016 and 2015 of approximately $6,000 and $4,000, respectively, for the shares of common stock issued to consultants. &nbsp;</p><br/><span></span>
</td>
</tr>
</table>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 40<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6418621&amp;loc=d3e17540-113929<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 50<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=51659978&amp;loc=d3e25284-112666<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5444-113901<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Staff Accounting Bulletin (SAB)<br> -Number Topic 14<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6600743904">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</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>
<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_FairValueDisclosuresTextBlock', window );">Fair Value Disclosures [Text Block]</a></td>
<td class="text"><p style="margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: -2px;" align="justify">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration: underline;">FAIR VALUE MEASUREMENTS</font></p><br/><p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align="justify">US GAAP defines fair value and establishes a framework for measuring fair value. &nbsp;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.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">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><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify">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><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify">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;</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify">Level 3 <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> 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<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. </p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of January 31, 2016: </p><br/><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17"><font style="font-size: small;">&nbsp;&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Total</font></p></td>
    </tr>
    <tr style="height: 15.75pt;">
     <td style="border: 0px currentColor; height: 15.75pt;" valign="bottom" height="21">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Money market funds &#x2013;&nbsp;&nbsp; </font><font style="font-size: small;">Cash equivalents</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,402,588 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,402,588 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><font style="font-size: small;">Certificates of deposit - Short-term investments</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,150,000 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,150,000 </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="border: 0px currentColor; height: 13.5pt; background-color: #cceeff;" valign="bottom" height="18"><font style="margin-left: 10pt; font-size: small;">Total financial assets</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,402,588 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2,150,000 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">5,552,588 </font></p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:</p><br/><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Total</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Money market funds &#x2013; Cash equivalents</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">467,967 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">467,967 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><font style="font-size: small;">Certificates of deposit - Short term investments</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,400,000 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,400,000 </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="border: 0px currentColor; height: 13.5pt; background-color: #cceeff;" valign="bottom" height="18"><font style="margin-left: 10pt; font-size: small;">Total financial assets</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">467,967 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2,400,000 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2,867,967 </font></p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px">The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of January 31, 2016:</p><br/><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
      <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
      <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
      <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Total</font></p></td>
     </tr>
     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     </tr>
     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Patent acquisition obligation</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,812,088</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,812,088</font></p></td>
     </tr>
     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px none currentcolor; text-align: right; display: none;">&nbsp;.</td>
     </tr>

   </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px">The following table presents the hierarchy for our financial liabilities measured at fair value on a recurring basis as of October 31, 2015:</p><br/><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Total</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Patent acquisition obligation</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,688,187</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,688,187</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px none currentcolor; text-align: right; display: none;">&nbsp;.</td>
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  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:54px" align="justify">The following table sets forth the changes in the fair value of the Company<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s Level 3 financial liabilities that are measured at fair value on a recurring basis:</p><br/><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt;" valign="bottom" width="600" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 67pt;" valign="bottom" width="89">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt;" valign="bottom" width="600" height="17"><font style="text-decoration: underline;"><font style="font-size: small;">Patent acquisition obligation</font></font></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 67pt;" valign="bottom" width="89">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt; background-color: #cceeff;" valign="bottom" width="600" height="17"><font style="font-size: small;">Balance October 31, 2015</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; width: 67pt; background-color: #cceeff;" valign="bottom" width="89"><p align="right"><font style="font-size: small;">3,688,187 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt;" valign="bottom" width="600" height="17"><font style="font-size: small;">Accreted interest on patent obligation</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 14pt;" valign="bottom" width="19"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 67pt;" valign="bottom" width="89"><p align="right"><font style="font-size: small;">123,901 </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 13.5pt; background-color: #cceeff;" valign="bottom" width="600" height="18"><font style="font-size: small;">Balance January 31, 2016</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; width: 67pt; background-color: #cceeff;" valign="bottom" width="89"><p align="right"><font style="font-size: small;">3,812,088 </font></p></td>
    </tr>

  </table><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Our non-financial assets that are measured 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 prepaid expenses, accounts payable and accrued expenses approximates their individual carrying amounts due to the short term nature of these measurements. &nbsp;Cash and cash equivalents are stated at carrying value which approximates fair value. &nbsp;</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for 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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778173584">
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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">3 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</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_invest_InvestmentsScheduleAbstract', window );"><strong>Investments Schedule [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><p style="font-size: 12pt; margin: 0px; text-indent: -2px;" align="justify">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration: underline;">INVESTMENTS</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">At January 31, 2016 and October 31, 2015, we had certificates of deposit of $2,150,000 and $2,400,000, respectively, which were classified as short-term investments and reported at fair value. &nbsp;</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for investments, including all tables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Article 6<br> -Section 10<br> -Paragraph (c)<br> -Subparagraph (1)<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610260816">
<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">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</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_PayablesAndAccrualsAbstract', window );"><strong>Payables and Accruals [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</a></td>
<td class="text"><p style="margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: -2px;" align="justify">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration: underline;">ACCOUNTS PAYABLE AND ACCRUED EXPENSES</font></p><br/><p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align="justify">Accounts payable and accrued expense consist of the following as of:</p><br/><table style="width: 675px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 13.1pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 75.3pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="100"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">January 31, </font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 73.5pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="98"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">October 31, </font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460">&nbsp;</td>
      <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 75.3pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="100"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2016</font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 73.5pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="98"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2015</font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Accounts payable</font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">560,414 </font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">374,703 </font></p></td>
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      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Payroll and related expenses</font></p></td>
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      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">453,629 </font></p></td>
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      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">-</font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Accrued other</font></p></td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">22,175 </font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">6,062 </font></p></td>
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     <tr style="height: 13.85pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="460"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt; display: none;">Total</font></td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
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      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">380,765 </font></p></td>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a),20,24)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
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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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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778270000">
<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">3 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="text"><p style="margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: -2px;" align="justify">6. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration: underline;">NET LOSS PER SHARE OF COMMON STOCK </font></p><br/><p style="FONT-SIZE:12pt; CLEAR:left; MARGIN:0px; TEXT-INDENT:48px" align="justify">Basic net income (loss) per common share (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Basic EPS<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) is computed by dividing net income (loss) by the weighted average number of common shares outstanding. &nbsp;Diluted net income (loss) per common share (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>Diluted EPS<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) 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><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Diluted EPS for the three months ended January 31, 2016 is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive. &nbsp;For this reason, excluded from the calculation of Diluted EPS for the three months ended January 31, 2016 were stock options to purchase 2,712,472 shares, warrants to purchase 802,587 shares and preferred stock convertible into 739,958 shares. </p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 48px;" align="justify">Dilutive EPS for the three months ended January 31, 2015 excluded stock options to purchase 2,803,196 shares and warrants to purchase 1,044,931 shares because their effect would be antidilutive. &nbsp;The following is a reconciliation between basic weighted average common shares outstanding and dilutive weighted average common shares outstanding for the three months ended January 31, 2015:</p><br/><table style="width: 550px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 476pt; height: 12.75pt;" valign="bottom" width="635" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145"><p align="center"><font style="font-size: small;">For the Three</font></p></td>
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     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Months Ended</font></p></td>
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     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">January 31, 2015</font></p></td>
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     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">8,788,375</font></p></td>
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     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><font style="font-size: small;">Effect of Series A convertible preferred stock</font></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">461,572</font></p></td>
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     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">1,588</font></p></td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778335280">
<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">3 Months Ended</th>
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<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
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<td class="text"><p style="font-size: 12pt; margin: 0px; text-indent: -2px;" align="justify">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font style="text-decoration: underline;">EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-09<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), Revenue from Contracts with Customers. &nbsp;This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &nbsp;This standard update is effective for&nbsp;interim and annual&nbsp;reporting periods beginning after December 15,&nbsp;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &nbsp;In July 2015, a one year deferral of the effective date of the new guidance was approved. We are currently evaluating the impact ASU 2014-09 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In June 2014, the FASB issued Accounting Standards Update 2014-12 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-12<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>), Compensation <font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8211;</font> Stock Compensation. &nbsp;This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In August 2014, the FASB issued Accounting Standards Update 2014-15 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2014-15<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>). &nbsp;This amendment requires management to assess an entity<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8217;</font>s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In April 2015, the FASB issued Accounting Standards Update 2015-03 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2015-03<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to simplify the presentation of debt issuance costs. This amendment requires debt issuance costs be presented on the balance sheet as a direct reduction from the carrying amount of the debt liability, consistent with debt discounts or premiums. </p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Adoption of this standard is required for interim and annual periods beginning after December 15, 2015 and is to be applied retrospectively. We are currently evaluating the impact ASU 2015-03 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">In November 2015, the FASB issued Accounting Standards Update 2015-17 (<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8220;</font>ASU 2015-17<font style="FONT-FAMILY:Arial Unicode MS,Times New Roman">&#8221;</font>) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet. &nbsp;Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p><br/><span></span>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Change in Accounting Principle<br> -URI http://asc.fasb.org/extlink&amp;oid=6507316<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Direct Effects of a Change in Accounting Principle<br> -URI http://asc.fasb.org/extlink&amp;oid=6510796<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22583-107794<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Indirect Effects of a Change in Accounting Principle<br> -URI http://asc.fasb.org/extlink&amp;oid=6515603<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22580-107794<br><br>Reference 6: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.10-01.(b)(6))<br> -URI http://asc.fasb.org/extlink&amp;oid=27015980&amp;loc=d3e46468-122699<br><br>Reference 7: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Accounting Change<br> -URI http://asc.fasb.org/extlink&amp;oid=6503790<br><br>Reference 8: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 250<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=56949863&amp;loc=d3e22499-107794<br><br>Reference 9: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Retrospective Application<br> -URI http://asc.fasb.org/extlink&amp;oid=6523989<br><br>Reference 10: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=51655806&amp;loc=d3e765-108305<br><br>Reference 11: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 270<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=51655806&amp;loc=d3e725-108305<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610818928">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
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<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:-2px">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>INCOME TAXES </u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">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 January 31, 2016 and October 31, 2015.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse. &nbsp;A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized. We have substantial net operating loss carryforwards for Federal and New York State income tax returns. 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.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">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 1). &nbsp;As a result we realized taxable income during the first quarter of fiscal year 2015. &nbsp;Any taxable income for the full fiscal year was 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 three months ended January 31, 2015 as a result of the partial release of the valuation reserve recorded against our deferred tax assets.</p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for 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>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6606688688">
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<td class="text"><p style="font-size: 12pt; margin: 0px; text-indent: -2px;" align="justify">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<font style="text-decoration: underline;">COMMITMENT AND CONTINGENCES</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>

     Patent Acquisition Obligations
    </u></p><br/><p style="margin-bottom: 16px; font-size: 12pt; margin-top: 0px; text-indent: 48px;" align="justify">As of January 31, 2016, we have incurred obligations due no later than November 2017 related to the acquisition of patents, which have a discounted present value of approximately $3,812,000, and which amount will be reduced by royalties paid during the period, if any. &nbsp;The payment due in November 2017 is payable at the option of the Company in cash or common stock. &nbsp;We recorded interest expense of approximately $124,000 and $109,000, respectively, for the three months ended January 31, 2016 and 2015, for the accretion of interest on patent acquisition obligations.</p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u>Litigation Matters</u></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 1). </p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify">Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.</p><br/><span></span>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6777321376">
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     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.95pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="85">&nbsp;</td>
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     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 13.5pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
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     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
     <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 14.3pt;" valign="bottom" nowrap="nowrap" width="90"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
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     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 245.9pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="328"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding and exercisable at&nbsp; January 31, 2016</font></p></td>
     <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.95pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">366,200</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 13.8pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="18">&nbsp;</td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 84.05pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="112"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">17.86 </font></p></td>
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     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 16.75pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="22"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
     <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 67.35pt; height: 15.05pt;" valign="bottom" nowrap="nowrap" width="90"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">20,237 </font></p></td>
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     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
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     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Range of</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">and</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Exercise Prices</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercisable</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$&nbsp; </font><font style="font-size: small;">1.79 - $</font><font style="font-size: small;">&nbsp; </font><font style="font-size: small;">7.75</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">73,880</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">1.50</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2.91 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$13.50 - $17.50</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">59,600</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">1.08 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">16.75 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$18.75 - $23.00</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">192,720</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">.88 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">21.57 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$29.25 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">40,000</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">1.56 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">$</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">29.25 </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_P2010SharePlanMember', 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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><table style="width: 645px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

       <tr style="height: 13.1pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="256">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="88">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="20">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Weighted</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="131"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Aggregate</font></p></td>
       </tr>
       <tr style="height: 13.1pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="256">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 66.35pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="88">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="20">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Average Exercise</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 98.4pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="131"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Intrinsic</font></p></td>
       </tr>
       <tr style="height: 13.1pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="256">&nbsp;</td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 87.2pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Price Per Share</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 98.4pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="131"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Value</font></p></td>
       </tr>
       <tr style="height: 13.9pt;">
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="256"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding at October 31, 2015</font></p></td>
        <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">526,272</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">3.33 </font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 13.9pt;" valign="bottom" nowrap="nowrap" width="110"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       </tr>
       <tr style="height: 14.6pt;">
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="256"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding&nbsp; at January 31, 2016</font></p></td>
        <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">526,272</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">3.33 </font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="110"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">149,942 </font></p></td>
       </tr>
       <tr style="height: 14.6pt;">
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 191.95pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="256"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Exercisable at January 31, 2016</font></p></td>
        <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 66.35pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="88"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">447,318</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="20"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 87.2pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="116"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">3.33 </font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.5pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.8pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
        <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 82.6pt; height: 14.6pt;" valign="bottom" nowrap="nowrap" width="110"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">124,197 </font></p></td>
       </tr>

     </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 83pt; height: 12.75pt;" valign="bottom" width="110" height="17">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 249pt;" colspan="3" valign="bottom" width="330"><p align="center"><font style="font-size: small;">Options Outstanding&nbsp;</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 275pt;" colspan="3" valign="bottom" width="365"><p align="center"><font style="font-size: small;">Options Exercisable</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Range of</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life&nbsp;</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Exercise Prices</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Outstanding</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center">&nbsp;</p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercisable</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$2.58 - $9.25</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">526,272</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">6.72</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$3.33 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">447,318</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">6.51</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$3.33 </font></p></td>
    </tr>
    <tr style="height: 10.00pt;">
     <td style="border: 0px currentColor; height: 10.00pt;" height="10">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;"><p align="right"><font style="font-size: small; display: none;">.</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_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_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_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock', window );">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</a></td>
<td class="text"><table style="width: 709px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

      <tr style="height: 13.65pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="353">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="85">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="21">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Weighted</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;" colspan="2" valign="bottom" nowrap="nowrap" width="104"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Aggregate</font></p></td>
      </tr>
      <tr style="height: 13.65pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="353">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 63.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="85">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="21">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Average Exercise</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 78.2pt; height: 13.65pt;" colspan="2" valign="bottom" nowrap="nowrap" width="104"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Intrinsic</font></p></td>
      </tr>
      <tr style="height: 13.65pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="353">&nbsp;</td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Shares</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 15.7pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 83.6pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Price Per Share</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 13.65pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 78.2pt; height: 13.65pt;" colspan="2" valign="bottom" nowrap="nowrap" width="104"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Value</font></p></td>
      </tr>
      <tr style="height: 14.45pt;">
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="353"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding at October 31, 2015</font></p></td>
       <td style="background: #cceeff; border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">1,780,000</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2.70 </font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="17"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
       <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 14.45pt;" valign="bottom" nowrap="nowrap" width="83"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">&nbsp;</font></p></td>
      </tr>
      <tr style="height: 15.3pt;">
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 264.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="353"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Options Outstanding&nbsp; and exercisable at January 31, 2015</font></p></td>
       <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 63.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="85"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">1,780,000</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 83.6pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="111"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2.70 </font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.9pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="17">&nbsp;</td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 15.7pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="21"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
       <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 62.5pt; height: 15.3pt;" valign="bottom" nowrap="nowrap" width="83"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">619,600 </font></p></td>
      </tr>

    </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 135pt; height: 12.75pt;" valign="bottom" width="180" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 135pt;" valign="bottom" width="180"><p align="center"><font style="font-size: small;">Number</font></p></td>
     <td style="border: 0px currentColor; width: 135pt;" valign="bottom" width="180"><p align="center"><font style="font-size: small;">Weighted Average</font></p></td>
     <td style="border: 0px currentColor; width: 135pt;" valign="bottom" width="180"><p align="center">&nbsp;</p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Outstanding</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Remaining</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Weighted</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Range of</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">and</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Contractual Life</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="center"><font style="font-size: small;">Average</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; height: 12.75pt;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">Exercise Prices</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercisable</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">(in years)</font></p></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">Exercise Price</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><p align="center"><font style="font-size: small;">$2.58-$5.56</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">1,780,000</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">6.51</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$2.70 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px none currentcolor; text-align: right; display: none;">&nbsp;.</td>
    </tr>

  </table><span></span>
</td>
</tr>
</table>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6781456608">
<tr>
<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">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
<tr class="re">
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<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_FairValueAssetsMeasuredOnRecurringBasisTextBlock', window );">Fair Value, Assets Measured on Recurring Basis [Table Text Block]</a></td>
<td class="text"><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17"><font style="font-size: small;">&nbsp;&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Total</font></p></td>
    </tr>
    <tr style="height: 15.75pt;">
     <td style="border: 0px currentColor; height: 15.75pt;" valign="bottom" height="21">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Money market funds &#x2013;&nbsp;&nbsp; </font><font style="font-size: small;">Cash equivalents</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,402,588 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,402,588 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><font style="font-size: small;">Certificates of deposit - Short-term investments</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,150,000 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,150,000 </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="border: 0px currentColor; height: 13.5pt; background-color: #cceeff;" valign="bottom" height="18"><font style="margin-left: 10pt; font-size: small;">Total financial assets</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,402,588 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2,150,000 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">5,552,588 </font></p></td>
    </tr>

  </table><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 56pt;" valign="bottom" width="75">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" colspan="2" valign="bottom"><p align="center"><font style="font-size: small;">Total</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom"><font style="font-size: small;">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Money market funds &#x2013; Cash equivalents</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">467,967 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">467,967 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><font style="font-size: small;">Certificates of deposit - Short term investments</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,400,000 </font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">2,400,000 </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="border: 0px currentColor; height: 13.5pt; background-color: #cceeff;" valign="bottom" height="18"><font style="margin-left: 10pt; font-size: small;">Total financial assets</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">467,967 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2,400,000 </font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">2,867,967 </font></p></td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]</a></td>
<td class="text"><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0">

     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
      <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
      <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
      <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
      <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Total</font></p></td>
     </tr>
     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
      <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     </tr>
     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Patent acquisition obligation</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,812,088</font></p></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
      <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,812,088</font></p></td>
     </tr>
     <tr style="height: 12.75pt;">
      <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px currentColor;">&nbsp;</td>
      <td style="border: 0px none currentcolor; text-align: right; display: none;">&nbsp;.</td>
     </tr>

   </table><table style="width: 713px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 210pt; height: 12.75pt;" valign="bottom" width="280" height="17">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 1</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 2</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Level 3</font></p></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 70pt;" colspan="2" valign="bottom" width="94"><p align="center"><font style="font-size: small;">Total</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
     <td style="border: 0px currentColor;" valign="bottom">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Patent acquisition obligation</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">-</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,688,187</font></p></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$&nbsp;</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">3,688,187</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px currentColor;">&nbsp;</td>
     <td style="border: 0px none currentcolor; text-align: right; display: none;">&nbsp;.</td>
    </tr>

  </table><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</a></td>
<td class="text"><table style="width: 600px; border-collapse: collapse;" cellspacing="0" cellpadding="0" align="center">

    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt;" valign="bottom" width="600" height="17">&nbsp;</td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 67pt;" valign="bottom" width="89">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt;" valign="bottom" width="600" height="17"><font style="text-decoration: underline;"><font style="font-size: small;">Patent acquisition obligation</font></font></td>
     <td style="border: 0px currentColor; width: 14pt;" valign="bottom" width="19">&nbsp;</td>
     <td style="border: 0px currentColor; width: 67pt;" valign="bottom" width="89">&nbsp;</td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt; background-color: #cceeff;" valign="bottom" width="600" height="17"><font style="font-size: small;">Balance October 31, 2015</font></td>
     <td style="border: 0px currentColor; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border: 0px currentColor; width: 67pt; background-color: #cceeff;" valign="bottom" width="89"><p align="right"><font style="font-size: small;">3,688,187 </font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 12.75pt;" valign="bottom" width="600" height="17"><font style="font-size: small;">Accreted interest on patent obligation</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 14pt;" valign="bottom" width="19"><font style="font-size: small;">&nbsp;</font></td>
     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; width: 67pt;" valign="bottom" width="89"><p align="right"><font style="font-size: small;">123,901 </font></p></td>
    </tr>
    <tr style="height: 13.5pt;">
     <td style="border: 0px currentColor; width: 450pt; height: 13.5pt; background-color: #cceeff;" valign="bottom" width="600" height="18"><font style="font-size: small;">Balance January 31, 2016</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><font style="font-size: small;">$</font></td>
     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext; width: 67pt; background-color: #cceeff;" valign="bottom" width="89"><p align="right"><font style="font-size: small;">3,812,088 </font></p></td>
    </tr>

  </table><span></span>
</td>
</tr>
</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>
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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>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19279-110258<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
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<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610260816">
<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">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</div></th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>Payables and Accruals [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]</a></td>
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     <tr style="height: 13.1pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 75.3pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="100"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">January 31, </font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 73.5pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="98"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">October 31, </font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460">&nbsp;</td>
      <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 75.3pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="100"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2016</font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 73.5pt; height: 13.1pt;" colspan="2" valign="bottom" nowrap="nowrap" width="98"><p style="margin: 0in 0in 0pt; text-align: center; line-height: normal;" align="center"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">2015</font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Accounts payable</font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">560,414 </font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">374,703 </font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Payroll and related expenses</font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 60.75pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">453,629 </font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 59pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">-</font></p></td>
     </tr>
     <tr style="height: 13.1pt;">
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="460"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">Accrued other</font></p></td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">22,175 </font></p></td>
      <td style="background: #cceeff; padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="16"><p style="margin: 0in 0in 0pt; line-height: normal;">&nbsp;</p></td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="19">&nbsp;</td>
      <td style="background: #cceeff; border-width: 0px 0px 1pt; border-style: none none solid; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.1pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">6,062 </font></p></td>
     </tr>
     <tr style="height: 13.85pt;">
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 345.1pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="460"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt; display: none;">Total</font></td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 60.75pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="81"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">1,036,218 </font></p></td>
      <td style="padding: 0in 5.4pt; border: 0px currentColor; width: 12.15pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="16">&nbsp;</td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 14.55pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="19"><p style="margin: 0in 0in 0pt; line-height: normal;"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">$</font></p></td>
      <td style="border-width: 0px 0px 2.25pt; border-style: none none double; border-color: currentColor currentColor windowtext; padding: 0in 5.4pt; width: 59pt; height: 13.85pt;" valign="bottom" nowrap="nowrap" width="79"><p style="margin: 0in 0in 0pt; text-align: right; line-height: normal;" align="right"><font style="color: black; font-family: 'Times New Roman','serif'; font-size: 10pt;">380,765 </font></p></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>
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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;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6781427152">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NET LOSS PER SHARE OF COMMON STOCK (Tables)<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th"><div>Jan. 31, 2016</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_EarningsPerShareAbstract', window );"><strong>Earnings Per Share [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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     <td style="border: 0px currentColor; width: 476pt; height: 12.75pt;" valign="bottom" width="635" height="17"><p align="center">&nbsp;</p></td>
     <td style="border: 0px currentColor; width: 109pt;" valign="bottom" width="145"><p align="center"><font style="font-size: small;">For the Three</font></p></td>
    </tr>
    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><p align="center">&nbsp;</p></td>
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     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="center"><font style="font-size: small;">January 31, 2015</font></p></td>
    </tr>
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     <td style="border: 0px currentColor; height: 12.75pt; background-color: #cceeff;" valign="bottom" height="17"><font style="font-size: small;">Basic weighted average common shares outstanding</font></td>
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    <tr style="height: 12.75pt;">
     <td style="border: 0px currentColor; height: 12.75pt;" valign="bottom" height="17"><font style="font-size: small;">Effect of Series A convertible preferred stock</font></td>
     <td style="border: 0px currentColor;" valign="bottom"><p align="right"><font style="font-size: small;">461,572</font></p></td>
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     <td style="border-width: 0px 0px 0.5pt; border-style: none none solid; border-color: currentColor currentColor windowtext; background-color: #cceeff;" valign="bottom"><p align="right"><font style="font-size: small;">1,588</font></p></td>
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     <td style="border-width: 0px 0px 2pt; border-style: none none double; border-color: currentColor currentColor windowtext;" valign="bottom"><p align="right"><font style="font-size: small;">9,251,535</font></p></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>
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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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780064448">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BUSINESS AND FUNDING (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 29, 2014</div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Proceeds from Legal Settlements</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="nump">$ 532,000<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_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Provided by (Used in) Investing Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">143,988<span></span>
</td>
<td class="num">$ (204,776)<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_ProceedsFromSaleOfShortTermInvestments', window );">Proceeds from Sale of Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="nump">500,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquireShortTermInvestments', window );">Payments to Acquire Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">250,000<span></span>
</td>
<td class="nump">650,000<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_PaymentsToAcquirePropertyPlantAndEquipment', window );">Payments to Acquire Property, Plant, and Equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">106,012<span></span>
</td>
<td class="nump">54,776<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_CashPeriodIncreaseDecrease', window );">Cash, Period Increase (Decrease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">638,000<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_CashCashEquivalentsAndShortTermInvestments', window );">Cash, Cash Equivalents, and Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,131,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,769,000<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_AmortizationOfIntangibleAssets', window );">Amortization of Intangible Assets</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 81,324<span></span>
</td>
<td class="nump">$ 81,324<span></span>
</td>
<td class="text">&#160;<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>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 45<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6388964&amp;loc=d3e16225-109274<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 350<br> -SubTopic 30<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=26713463&amp;loc=d3e16323-109275<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3521-108585<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 26<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3574-108585<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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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>Cash received for the settlement of litigation during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromLegalSettlements</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 12<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3179-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromSaleOfShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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</body>
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6790769120">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ConsultantMember', window );">Consultant [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 51,000<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_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Consultant [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_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>
</tr>
<tr class="ro">
<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="nump">2,000<span></span>
</td>
<td class="nump">800<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="nump">$ 6,000<span></span>
</td>
<td class="nump">$ 4,000<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_AwardTypeAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [Member] | Stock Options Granted To Employees And Directors [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_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>
</tr>
<tr class="ro">
<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">$ 112,000<span></span>
</td>
<td class="nump">$ 543,000<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_StatementEquityComponentsAxis=us-gaap_CommonStockMember', window );">Common 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_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>
</tr>
<tr class="re">
<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="nump">2,000<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_PlanNameAxis=itus_P2010SharePlanMember', 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>
</tr>
<tr 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>
</tr>
<tr class="ro">
<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="nump">988,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember', window );">2010 Share Plan [Member] | Common Stock [Member] | Employee Stock Option [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_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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)</a></td>
<td class="nump">52,000<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="nump">$ 2.80<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] | Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr 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>
</tr>
<tr class="re">
<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="nump">1,780,000<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_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>
</tr>
<tr 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>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period</a></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_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>
</tr>
<tr 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>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1', window );">Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period</a></td>
<td class="text">10 years<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_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_ShareBasedCompensation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=56944662&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Estimated period over which an employee is required to provide service in exchange for the equity-based payment award, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
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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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<td>na</td>
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<td>instant</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>
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<td>us-gaap_</td>
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<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>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>
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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>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</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 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>
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<td>na</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
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<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<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>
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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_PlanNameAxis=itus_P2010SharePlanMember</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>
<td></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>
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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_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember</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>
<td></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RangeAxis=us-gaap_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MinimumMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RangeAxis=us-gaap_MaximumMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6777308752">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 2003 Share Plan - 2003 Share Plan [Member]<br></strong></div></th>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 2003 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, 2015 | shares</a></td>
<td class="nump">366,200<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding at October 31, 2015 | $ / shares</a></td>
<td class="nump">$ 17.86<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber', window );">Options Outstanding and exercisable at January 31, 2016 | shares</a></td>
<td class="nump">366,200<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice', window );">Options Outstanding and exercisable at January 31, 2016 | $ / shares</a></td>
<td class="nump">$ 17.86<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue', window );">Options Outstanding and exercisable at January 31, 2016 | $</a></td>
<td class="nump">$ 20,237<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanLineItems</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>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>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_p2003SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_p2003SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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</div>
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</html>
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<html>
<head>
<title></title>
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<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6790964368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Stock options outstanding and exercisable under 2003 share plan - 2003 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jan. 31, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices179To925Member', window );">Range Of Exercise Prices $1.79 To $9.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable', window );">Options Outstanding and Exercisable, Number | shares</a></td>
<td class="nump">73,880<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life</a></td>
<td class="text">1 year 6 months<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice', window );">Options Outstanding and Exercisable, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 2.91<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1350To1750Member', window );">Range Of Exercise Prices $13.50 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 custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable', window );">Options Outstanding and Exercisable, Number | shares</a></td>
<td class="nump">59,600<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life</a></td>
<td class="text">1 year 29 days<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice', window );">Options Outstanding and Exercisable, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 16.75<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1875To2300Member', window );">Range Of Exercise Prices $18.75 To $23.00 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable', window );">Options Outstanding and Exercisable, Number | shares</a></td>
<td class="nump">192,720<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life</a></td>
<td class="text">321 days<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice', window );">Options Outstanding and Exercisable, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 21.57<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices2925Member', window );">Range Of Exercise Prices $29.25 [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable', window );">Options Outstanding and Exercisable, Number | shares</a></td>
<td class="nump">40,000<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life</a></td>
<td class="text">1 year 204 days<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice', window );">Options Outstanding and Exercisable, Weighted Average Exercise Price (in Dollars per share) | $ / shares</a></td>
<td class="nump">$ 29.25<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 or issued but not exercised pertaining to the outstanding and exercisable 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>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_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable</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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 and exercisable 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>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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice</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>
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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 and 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>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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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">
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<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices179To925Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_p2003SharePlanMember</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_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1350To1750Member</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1875To2300Member</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices2925Member</td>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780396656">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 2010 Share Plan - 2010 Share Plan [Member]<br></strong></div></th>
<th class="th">
<div>Jan. 31, 2016 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Information regarding the 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, 2015 | shares</a></td>
<td class="nump">526,272<span></span>
</td>
</tr>
<tr class="re">
<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, 2015 | $ / shares</a></td>
<td class="nump">$ 3.33<span></span>
</td>
</tr>
<tr class="ro">
<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 January 31, 2016 | shares</a></td>
<td class="nump">526,272<span></span>
</td>
</tr>
<tr class="re">
<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 January 31, 2016 | $ / shares</a></td>
<td class="nump">$ 3.33<span></span>
</td>
</tr>
<tr class="ro">
<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 at January 31, 2016 | $</a></td>
<td class="nump">$ 149,942<span></span>
</td>
</tr>
<tr class="re">
<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 January 31, 2016 | shares</a></td>
<td class="nump">447,318<span></span>
</td>
</tr>
<tr class="ro">
<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 January 31, 2016 | $ / shares</a></td>
<td class="nump">$ 3.33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Options Exercisable at January 31, 2016 | $</a></td>
<td class="nump">$ 124,197<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2010SharePlanLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
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<td><strong> Period Type:</strong></td>
<td>duration</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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
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<td>instant</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2010SharePlanMember</td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>37
<FILENAME>R26.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6790714400">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Stock options outstanding under 2010 Share Plan - Range Of Exercise Prices $2.58 To $9.25 [Member] - 2010 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jan. 31, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions', window );">Options Outstanding, Number | shares</a></td>
<td class="nump">526,272<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding,Weighted Average Remaining Contractual Life</a></td>
<td class="text">6 years 262 days<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1', window );">Options Outstanding, Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 3.33<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions', window );">Options Exercisable, Number | shares</a></td>
<td class="nump">447,318<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Exercisable,Weighted Average Remaining Contractual Life</a></td>
<td class="text">6 years 186 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Options Exercisable,Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 3.33<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding exercisable stock options as of the balance sheet date in the customized range of exercise prices for which the market and performance vesting condition has been satisfied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions</td>
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<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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<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><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price as of the balance sheet date for those equity-based payment arrangements exercisable and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1</td>
</tr>
<tr>
<td style="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>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of exercisable stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-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>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1</td>
</tr>
<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>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2</td>
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<td><strong> Balance Type:</strong></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>
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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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2010SharePlanMember</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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</table></div>
</div></td></tr>
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</body>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R27.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780569584">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - Information regarding Stock options granted not under 2003 Share Plan and 2010 Share Plan - Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Information regarding Stock options granted not under 2003 Share Plan and 2010 Share Plan [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding at October 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,780,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding at October 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.70<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber', window );">Options Outstanding and exercisable at January 31, 2015</a></td>
<td class="nump">1,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice', window );">Options Outstanding and exercisable at January 31, 2015</a></td>
<td class="nump">$ 2.70<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue', window );">Options Outstanding and exercisable at January 31, 2015</a></td>
<td class="nump">$ 619,600<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems</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>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>
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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 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>
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<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<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>
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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>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
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<td>us-gaap_</td>
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<tr>
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<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>
</tr>
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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>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
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<td>na</td>
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<td>instant</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778215680">
<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 - Range Of Exercise Prices $2.58 To $5.56 [Member] - Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">3 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jan. 31, 2016 </div>
<div>$ / shares </div>
<div>shares</div>
</th></tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems', window );"><strong>Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable', window );">Options Outstanding and Exercisable, Number | shares</a></td>
<td class="nump">1,780,000<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2', window );">Options Outstanding and Exercisable, Weighted Average Remaining Contractual Life</a></td>
<td class="text">6 years 186 days<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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice', window );">Options Outstanding and Exercisable, Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 2.70<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>The number of shares reserved for issuance or issued but not exercised pertaining to the outstanding and exercisable 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>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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<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted average price as of the balance sheet date at which grantees could acquire the underlying shares with respect to all outstanding and exercisable 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>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_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice</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 and 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>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>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">
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices258To556Member</td>
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<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember</td>
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<DOCUMENT>
<TYPE>XML
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<head>
<title></title>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6779924464">
<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 ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="nump">$ 5,552,588<span></span>
</td>
<td class="nump">$ 2,867,967<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">3,402,588<span></span>
</td>
<td class="nump">467,967<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">2,150,000<span></span>
</td>
<td class="nump">2,400,000<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">3,402,588<span></span>
</td>
<td class="nump">467,967<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">$ 3,402,588<span></span>
</td>
<td class="nump">$ 467,967<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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member]</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">$ 2,150,000<span></span>
</td>
<td class="nump">$ 2,400,000<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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member] | Certificates of Deposit [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_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">$ 2,150,000<span></span>
</td>
<td class="nump">$ 2,400,000<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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_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"> <span></span>
</td>
<td class="text"> <span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByAssetClassAxis=us-gaap_CertificatesOfDepositMember</td>
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<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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
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<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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>na</td>
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<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>41
<FILENAME>R30.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780001728">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities measured at fair value - Patent Acquisition Obligation [Member] - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities measured at fair value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Financial Liability</a></td>
<td class="nump">$ 3,812,088<span></span>
</td>
<td class="nump">$ 3,688,187<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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities 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_LiabilitiesFairValueDisclosureRecurring', window );">Financial Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member', window );">Fair Value, Inputs, Level 2 [Member]</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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities 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_LiabilitiesFairValueDisclosureRecurring', window );">Financial Liability</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_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_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities 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_LiabilitiesFairValueDisclosureRecurring', window );">Financial Liability</a></td>
<td class="nump">$ 3,812,088<span></span>
</td>
<td class="nump">$ 3,688,187<span></span>
</td>
</tr>
</table>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems</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>Aggregation of the liabilities reported on the balance sheet measured at fair value on a recurring basis by the entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" 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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByLiabilityClassAxis=itus_PatentAcquisitionObligationMember</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">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel1Member</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel2Member</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueByFairValueHierarchyLevelAxis=us-gaap_FairValueInputsLevel3Member</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>42
<FILENAME>R31.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6610739808">
<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 ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligationAbstract', window );"><strong>Patent acquisition obligation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance October 31, 2015</a></td>
<td class="nump">$ 3,688,187<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_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense', window );">Accreted interest on patent obligation</a></td>
<td class="nump">123,901<span></span>
</td>
<td class="nump">$ 109,186<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance January 31, 2016</a></td>
<td class="nump">$ 3,812,088<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_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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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_PatentAcquisitionObligationAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_PatentAcquisitionObligationAbstract</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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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 financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=36462937&amp;loc=d3e19207-110258<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6778368032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INVESTMENTS (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentsScheduleAbstract', window );"><strong>Investments Schedule [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CertificatesOfDepositAtCarryingValue', window );">Certificates of Deposit, at Carrying Value</a></td>
<td class="nump">$ 2,150,000<span></span>
</td>
<td class="nump">$ 2,400,000<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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<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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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CertificatesOfDepositAtCarryingValue">
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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>A savings certificate entitling the Entity (that is, bearer) to receive interest at an established maturity date, based upon a fixed interest rate.  A certificate of deposit may be issued in any denomination. Certificates of deposit are generally issued by commercial banks and, therefore, insured by the FDIC (up to the prescribed limit).  Certificates of deposit generally restrict holders from withdrawing funds on demand without the incurrence of penalties.  Generally, only certificates of deposit with original maturities of three months or less qualify as cash equivalents. Original maturity means original maturity to the entity holding the investment. As a related example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CertificatesOfDepositAtCarryingValue</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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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>instant</td>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6781427152">
<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 ($)<br></strong></div></th>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountsPayableAndAccruedExpenseAbstract', window );"><strong>Accounts payable and accrued expense [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">$ 560,414<span></span>
</td>
<td class="nump">$ 374,703<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EmployeeRelatedLiabilitiesCurrent', window );">Payroll and related expenses</a></td>
<td class="nump">453,629<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherAccruedLiabilitiesCurrent', window );">Accrued other</a></td>
<td class="nump">22,175<span></span>
</td>
<td class="nump">$ 6,062<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_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent', window );">Total</a></td>
<td class="nump">$ 1,036,218<span></span>
</td>
<td class="nump">$ 380,765<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">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccountsPayableAndAccruedExpenseAbstract</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_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date, including liabilities incurred and payable to vendors for goods and services received, taxes, interest, rent and utilities, compensation costs, payroll taxes and fringe benefits (other than pension and postretirement obligations), contractual rights and obligations, and statutory obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03.15(1),(5))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03.15)<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent</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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
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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_EmployeeRelatedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EmployeeRelatedLiabilitiesCurrent</td>
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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>Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780647504">
<tr>
<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>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_EmployeeStockOptionMember', window );">Employee Stock Option [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_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems', window );"><strong>NET LOSS PER SHARE OF COMMON STOCK (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</a></td>
<td class="nump">2,712,472<span></span>
</td>
<td class="nump">2,803,196<span></span>
</td>
</tr>
<tr class="rh">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems', window );"><strong>NET LOSS PER SHARE OF COMMON STOCK (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</a></td>
<td class="nump">802,587<span></span>
</td>
<td class="nump">1,044,931<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_ConvertiblePreferredStockMember', window );">Convertible Preferred Stock [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_NETLOSSPERSHAREOFCOMMONSTOCKDetailsLineItems', window );"><strong>NET LOSS PER SHARE OF COMMON STOCK (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</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_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount', window );">Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount</a></td>
<td class="nump">739,958<span></span>
</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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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Antidilution<br> -URI http://asc.fasb.org/extlink&amp;oid=6505113<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Diluted Earnings Per Share<br> -URI http://asc.fasb.org/extlink&amp;oid=6510752<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Contingent Stock Agreement<br> -URI http://asc.fasb.org/extlink&amp;oid=6508534<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6777195152">
<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>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ReconciliationAbstract', window );"><strong>Reconciliation [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_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic weighted average common shares outstanding</a></td>
<td class="nump">8,727,035<span></span>
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<td class="nump">8,788,375<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToConversionOfPreferredStock', window );">Effect of Series A convertible preferred stock</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">461,572<span></span>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncrementalCommonSharesAttributableToShareBasedPaymentArrangements', window );">Effect of stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,588<span></span>
</td>
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<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_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Dilutive weighted average common shares outstanding</a></td>
<td class="nump">8,727,035<span></span>
</td>
<td class="nump">9,251,535<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 40<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1930-109256<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>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28A<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1500-109256<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 16<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1505-109256<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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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> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=6371337&amp;loc=d3e3550-109257<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 45<br> -Paragraph 10<br> -URI http://asc.fasb.org/extlink&amp;oid=7655603&amp;loc=d3e1448-109256<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Weighted-Average Number of Common Shares Outstanding<br> -URI http://asc.fasb.org/extlink&amp;oid=6528421<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6780450928">
<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 ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Income Tax Disclosure [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LitigationSettlementAmount', window );">Litigation Settlement, Amount</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</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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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LitigationSettlementAmount">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of 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">
<tr>
<td><strong> Name:</strong></td>
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<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.3.1.900</span><table class="report" border="0" cellspacing="2" id="idp6781355136">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENT AND CONTINGENCES (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jan. 31, 2016</div></th>
<th class="th"><div>Jan. 31, 2015</div></th>
</tr>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligationsDiscountedPresentValue', window );">Patent Acquisition Obligations Discounted, Present Value</a></td>
<td class="nump">$ 3,812,000<span></span>
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<td class="text">&#160;<span></span>
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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_InterestExpensePatentAcquisitionObligations', window );">Interest Expense, Patent Acquisition Obligations</a></td>
<td class="nump">$ 124,000<span></span>
</td>
<td class="nump">$ 109,000<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Interest expense recorded during the period for the accretion of interest on patent acquisition obligations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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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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<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
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var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
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};
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>51
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
