<SEC-DOCUMENT>0001513162-16-000968.txt : 20160819
<SEC-HEADER>0001513162-16-000968.hdr.sgml : 20160819
<ACCEPTANCE-DATETIME>20160819155546
ACCESSION NUMBER:		0001513162-16-000968
CONFORMED SUBMISSION TYPE:	10-Q
PUBLIC DOCUMENT COUNT:		52
CONFORMED PERIOD OF REPORT:	20160731
FILED AS OF DATE:		20160819
DATE AS OF CHANGE:		20160819

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:		161843187

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

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	COPYTELE INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-Q
<SEQUENCE>1
<FILENAME>form10q.htm
<DESCRIPTION>FORM 10-Q
<TEXT>
<HTML>
<head><title>FORM 10Q</title> </head> <body vlink=#954f72 link=blue lang=EN-US> <div style=page:WordSection1> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><b><font style=FONT-SIZE:14pt>UNITED STATES</font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><b><font style=FONT-SIZE:14pt>SECURITIES AND EXCHANGE COMMISSION</font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:14pt>Washington, D.C.&nbsp; 20549</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><b><font style=FONT-SIZE:14pt>FORM 10-Q</font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>OF THE SECURITIES EXCHANGE ACT OF 1934</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>For the quarterly period ended July 31, 2016</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>Commission file number 0-11254</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <div style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:1pt; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; BORDER-TOP:0px; FONT-FAMILY:"Times New Roman","serif"; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; TEXT-ALIGN:center; PADDING-TOP:0in; PADDING-LEFT:0in; MARGIN:0in 0in 0pt; BORDER-LEFT:0px; PADDING-RIGHT:0in; TEXT-AUTOSPACE:' align=center><b><font style=FONT-SIZE:19pt>ITUS Corporation</font></b></p></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:9pt>(Exact name of registrant as specified in its charter)</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <div align=center> <table width=800 bordercolor=transparent style="WIDTH:600pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=285 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=COLOR:black>Delaware</font></p></td> <td width=39 nowrap style="HEIGHT:15.75pt; WIDTH:29pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=305 nowrap style="HEIGHT:15.75pt; WIDTH:229pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=20 nowrap style="HEIGHT:15.75pt; WIDTH:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=143 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:107pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=COLOR:black>11-2622630</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:10pt; COLOR:black">(State or other jurisdiction of</font></p></td> <td width=39 nowrap style="HEIGHT:15pt; WIDTH:29pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=305 nowrap style="HEIGHT:15pt; WIDTH:229pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:9pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=20 nowrap style="HEIGHT:15pt; WIDTH:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=143 nowrap style="HEIGHT:15pt; WIDTH:107pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:9pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-SIZE:10pt; COLOR:black">(I.R.S. Employer</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:10pt; COLOR:black">incorporation or organization)</font></p></td> <td width=39 nowrap style="HEIGHT:15pt; WIDTH:29pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=305 nowrap style="HEIGHT:15pt; WIDTH:229pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:9pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=20 nowrap style="HEIGHT:15pt; WIDTH:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=143 nowrap style="HEIGHT:15pt; WIDTH:107pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:9pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-SIZE:10pt; COLOR:black">Identification No.)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=39 nowrap style="HEIGHT:15pt; WIDTH:29pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=305 nowrap style="HEIGHT:15pt; WIDTH:229pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=20 nowrap style="HEIGHT:15pt; WIDTH:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=143 nowrap style="HEIGHT:15pt; WIDTH:107pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=285 nowrap style="HEIGHT:15.75pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=COLOR:black>12100 Wilshire Boulevard, Suite 1275</font></p></td> <td width=39 nowrap style="HEIGHT:15.75pt; WIDTH:29pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=305 nowrap style="HEIGHT:15.75pt; WIDTH:229pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=20 nowrap style="HEIGHT:15.75pt; WIDTH:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=143 nowrap style="HEIGHT:15.75pt; WIDTH:107pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15.75pt> <td width=285 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:214pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=COLOR:black>Los Angeles, CA&nbsp; </font></p></td> <td width=39 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:29pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p></td> <td width=305 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:229pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p></td> <td width=20 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:15pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p></td> <td width=143 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:107pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=COLOR:black>90025</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:10pt; COLOR:black">(Address of principal executive offices)</font></p></td> <td width=39 nowrap style="HEIGHT:15pt; WIDTH:29pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=305 nowrap style="HEIGHT:15pt; WIDTH:229pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=20 nowrap style="HEIGHT:15pt; WIDTH:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=143 nowrap style="HEIGHT:15pt; WIDTH:107pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:10pt; COLOR:black">(Zip Code)</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <div style="BORDER-TOP:0px; BORDER-RIGHT:0px; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:1pt; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; BORDER-TOP:0px; FONT-FAMILY:"Times New Roman","serif"; BORDER-RIGHT:0px; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; TEXT-ALIGN:center; PADDING-TOP:0in; PADDING-LEFT:0in; MARGIN:0in 0in 0pt; BORDER-LEFT:0px; PADDING-RIGHT:0in; TEXT-AUTOSPACE:' align=center>(310) 484-5200</p></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:9pt>(Registrant's telephone number, including area code)</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Yes <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;No ___</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Yes <u>&nbsp;&nbsp;X&nbsp;&nbsp;</u>&nbsp;&nbsp;&nbsp;No ___</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &#147;large accelerated filer,&#148; &#147;accelerated filer&#148; and &#147;smaller reporting company&#148; in Rule 12b-2 of the Exchange Act.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <div align=center> <table width=800 bordercolor=transparent style="WIDTH:600pt; BORDER-COLLAPSE:collapse" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=395 nowrap style="HEIGHT:15pt; WIDTH:296.1pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:10pt; COLOR:black">Large accelerated filer [&nbsp;&nbsp; ]</font></p></td> <td width=137 nowrap style="HEIGHT:15pt; WIDTH:103pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=191 nowrap style="HEIGHT:15pt; WIDTH:143pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:10pt; COLOR:black">Accelerated filer [&nbsp;&nbsp; ]</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=395 nowrap style="HEIGHT:15pt; WIDTH:296.1pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:10pt; COLOR:black">Non-accelerated filer&nbsp;&nbsp; [&nbsp;&nbsp; ] (Do not check if a smaller reporting company)</font></p></td> <td width=137 nowrap style="HEIGHT:15pt; WIDTH:103pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=191 nowrap style="HEIGHT:15pt; WIDTH:143pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:10pt; COLOR:black">Smaller reporting company [X]</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Yes ____&nbsp;&nbsp;&nbsp;No <u>&nbsp;&nbsp;X </u>&nbsp;</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:10pt>On August 15, 2016, the registrant had outstanding 8,747,753 shares of Common Stock, par value $.01 per share, which is the registrant&#146;s only class of common stock.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>1</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></div> <div style=page:WordSection2> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><b><u><a name=TOC>TABLE OF CONTENTS</a></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <div align=center> <table bordercolor=transparent style="BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td colspan=2 nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#PART1>PART I.&nbsp; FINANCIAL INFORMATION</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#item1>Item 1.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#item1>Financial Statements.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#CBS>Condensed Consolidated Balance Sheets as of July 31, 2016 (Unaudited) and October 31, 2015</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">3</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp; </font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#OP>Condensed Consolidated Statements of Operations (Unaudited) for the nine months ended July 31, 2016 and 2015</a>&nbsp;</font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">4</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#OP1>Condensed Consolidated Statements of Operations (Unaudited) for the three months ended July 31, 2016 and 2015 </a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">5</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#SHAREHOLDERS>Condensed Consolidated Statement of Shareholders' Equity (Unaudited)&nbsp; for the nine months ended July 31, 2016</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">6</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#CF>Condensed Consolidated Statements of Cash Flows (Unaudited) for the nine months ended July 31, 2016 and 2015</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">7</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp; </font></p></td> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#NOTES>Notes to Condensed Consolidated Financial Statements (Unaudited)</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">8 &#150; 18</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#MANA>Item 2.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#MANA>Management's Discussion and Analysis of Financial Condition and Results of Operations.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">19 - 26</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp; </font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#ITEM3>Item 3.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#ITEM3>Quantitative and Qualitative Disclosures About Market Risk.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">26</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#ITEM4>Item 4.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#ITEM4>Controls and Procedures.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">26</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td colspan=2 nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#PART2>PART II.&nbsp; OTHER INFORMATION</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#LEGAL>Item 1.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;<a href=#LEGAL>Legal Proceedings.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">27</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#RISK>Item 1A.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;<a href=#RISK>Risk Factors.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">27</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#Unregistered>Item 2.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#Unregistered>Unregistered Sales of Equity Securities and Use of Proceeds.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">27</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#SS>Item 3.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#SS>Defaults Upon Senior Securities.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">27</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#MINE>Item 4.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#MINE>Mine Safety Disclosures.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">27</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#OTHER>Item 5.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#OTHER>Other Information.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">28</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#ITEM6>Item 6.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#ITEM6>Exhibits.</a></font></p></td> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">28</font></p></td></tr> <tr style=HEIGHT:15pt> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <td nowrap style="HEIGHT:15pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt" valign=bottom> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black"><a href=#SIGN>SIGNATURES</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td nowrap style="HEIGHT:15.75pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:5.4pt; PADDING-RIGHT:5.4pt"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:11pt; COLOR:black">29</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>2</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><b><u><font style=FONT-SIZE:11pt><a name=PART1>PART I.&nbsp; FINANCIAL INFORMATION</a></font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><font style=FONT-SIZE:11pt><a name=item1>Item 1.&nbsp;&nbsp;&nbsp;&nbsp; <u>Financial Statements.</u></a></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 315pt 0pt 0in; TEXT-AUTOSPACE:'>&nbsp;</p> <div align=center> <table width=1000 bordercolor=transparent style="WIDTH:750pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:31.5pt> <td width=100% colspan=6 nowrap style="HEIGHT:31.5pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style=FONT-SIZE:11pt>ITUS CORPORATION AND SUBSIDIARIES</font></u><font style=FONT-SIZE:11pt><br><u><a name=CBS>CONDENSED CONSOLIDATED BALANCE SHEETS</a></u></font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=13% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:13.82%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">(Unaudited)</font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=13% colspan=2 nowrap style="HEIGHT:15.75pt; WIDTH:13.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td></tr> <tr> <td> <td colspan=2> <p align=center>July 31, </p></td> <td> <p align=center>&nbsp;</p></td> <td colspan=2> <p align=center>October 31, </p></td></tr> <tr> <td> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid"> <p align=center>2016</p></td> <td> <p align=center>&nbsp;</p></td> <td colspan=2 style="BORDER-BOTTOM:#000000 1px solid"> <p align=center>2015</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style="FONT-SIZE:11pt; COLOR:black">ASSETS</font></u></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Current assets:</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Cash and cash equivalents</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,049,245 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,369,219 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Short-term investments in certificates of deposit</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,900,000 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,400,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Prepaid expenses and other current assets </font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">56,428 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">126,528 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total current assets</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,005,673 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">6,895,747 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Patents, net of accumulated amortization of $883,716 and $639,744, respectively</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,152,395 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,396,367 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Property and equipment, net of accumulated depreciation of $38,532 and&nbsp; $13,617 respectively</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">163,191 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">43,456 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total assets</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">6,321,259 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,335,570 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15.75pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15.75pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style="FONT-SIZE:11pt; COLOR:black">LIABILITIES AND SHAREHOLDERS' EQUITY</font></u></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Current liabilities:</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accounts payable and accrued expenses</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">531,624 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">380,765 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Royalties and contingent legal fees payable </font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">213,017 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total current liabilities</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">531,624 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">593,782 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Patent acquisition obligation (Note 9)</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,071,425 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,688,187 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total liabilities</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,603,049 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,281,969 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Commitments and contingencies (Note 9)</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Shareholders&#146; equity:</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=70% style="HEIGHT:15.75pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Preferred stock, par value $100 per share; 19,860 shares authorized; no shares issued or outstanding</font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15.75pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15.75pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:14.85pt> <td width=70% style="HEIGHT:14.85pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in; text-fit:100%" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black; LETTER-SPACING:0.25pt">Series A convertible preferred stock, par value $100 per share; 140 shares issued and outstanding</font></p></td> <td width=1% nowrap style="HEIGHT:14.85pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:14.85pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">14,000 </font></p></td> <td width=1% nowrap style="HEIGHT:14.85pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:14.85pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:14.85pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">14,000 </font></p></td></tr> <tr style=HEIGHT:27pt> <td width=70% style="HEIGHT:27pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Common stock, par value $.01 per share; 24,000,000 shares authorized; 8,747,753 and 8,724,878 shares<br>&nbsp;&nbsp;&nbsp; issued and outstanding, respectively</font></p></td> <td width=1% nowrap style="HEIGHT:27pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:27pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">87,478 </font></p></td> <td width=1% nowrap style="HEIGHT:27pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:27pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:27pt; WIDTH:11.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">87,249 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Additional paid-in capital</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">151,734,255 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">151,101,117 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accumulated deficit </font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(150,117,523)</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(146,148,765)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total shareholders&#146; equity</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,718,210 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.92%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.92%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">5,053,601 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70.42%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total liabilities and shareholders&#146; equity</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">6,321,259 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.92%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11.92%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,335,570 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:11pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>3</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <div align=center> <table width=1000 bordercolor=transparent style="WIDTH:750pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:30pt> <td width=12% colspan=6 nowrap style="HEIGHT:30pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style="FONT-SIZE:11pt; COLOR:black">ITUS CORPORATION AND SUBSIDIARIES</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style="FONT-SIZE:11pt; COLOR:black"><a name=OP>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS <br></a>(UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=5 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">For the Nine Months Ended</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">July 31,</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2016</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:windowtext 1pt solid; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2015</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Revenue:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Revenue from patent licensing activities</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">100,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">255,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Settlement with AU Optronics Corporation</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,000,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total revenue</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">100,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,255,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Operating costs and expenses:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Inventor royalties and contingent legal fees</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">61,720 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">152,861 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Litigation and licensing expenses</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">83,713 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,472,908 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Amortization of patents</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">243,972 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">243,972 </font></p></td></tr> <tr style=HEIGHT:27.9pt> <td width=70% style="HEIGHT:27.9pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Marketing, general and administrative expenses (including non-cash stock option compensation expenses of<br>&nbsp; $570,190 and $2,338,299, respectively)</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:27.9pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:27.9pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,306,305 </font></p></td> <td width=2% nowrap style="HEIGHT:27.9pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:27.9pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:27.9pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">5,152,489 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total operating costs and expenses</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,695,710 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,022,230 </font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=70% nowrap style="HEIGHT:16.5pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:16.5pt> <td width=70% nowrap style="HEIGHT:16.5pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Loss income from operations</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(3,595,710)</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">232,770 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Interest expense</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(383,238)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(333,779)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Interest income&nbsp; </font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">10,190 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">14,379 </font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=70% nowrap style="HEIGHT:16.5pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Loss before income taxes</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(3,968,758)</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(86,630)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Provision for income taxes</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net loss</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(3,968,758)</font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(86,630)</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net loss per common share:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Basic and diluted</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(0.45)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(0.01)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Weighted average common shares outstanding:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Basic and diluted</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,736,167 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,773,279 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10.5pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>4</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt><a href=#TOC><font color=#0066cc>Table of Contents</font></a><u> </u></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <div align=center> <table width=1000 bordercolor=transparent style="WIDTH:750pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=10% colspan=6 nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style=FONT-SIZE:11pt>ITUS CORPORATION AND SUBSIDIARIES<br><a name=OP1>CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS <br></a>(UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% colspan=5 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">For the Three Months Ended</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">July 31,</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2016</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% colspan=2 nowrap style="BORDER-TOP:windowtext 1pt solid; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2015</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Revenue:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Revenue from patent licensing activities</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">100,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">95,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total revenue</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">100,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">95,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Operating costs and expenses:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Inventor royalties and contingent legal fees</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">61,720 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">48,917 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Litigation and licensing expenses</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,551 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp; &nbsp;</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">32,636 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Amortization of patents</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">81,324 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">81,324 </font></p></td></tr> <tr style=HEIGHT:27pt> <td width=70% style="HEIGHT:27pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Marketing, general and administrative expenses (including non-cash stock option compensation expenses of<br>&nbsp; $240,441 and $780,591 respectively)</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:27pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:27pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">923,289 </font></p></td> <td width=2% nowrap style="HEIGHT:27pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:27pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:27pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,422,844 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total operating costs and expenses</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,074,884 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,585,721 </font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=70% nowrap style="HEIGHT:16.5pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:16.5pt> <td width=70% nowrap style="HEIGHT:16.5pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Loss from operations</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(974,884)</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(1,490,721)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Interest expense</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(132,357)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(115,981)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Interest income&nbsp; </font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,466 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,523 </font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=70% nowrap style="HEIGHT:16.5pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Loss before income taxes</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(1,103,775)</font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:16.5pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(1,602,179)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Provision for income taxes</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net loss</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(1,103,775)</font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=10% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:10%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(1,602,179)</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% nowrap style="HEIGHT:15.75pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15.75pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15.75pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net loss per common share:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Basic and diluted</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(0.13)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(0.18)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Weighted average common shares outstanding:</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Basic and diluted</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,745,423 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% nowrap style="HEIGHT:15pt; WIDTH:10%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,762,540 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style=FONT-SIZE:10.5pt>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt' align=center><font style='FONT-SIZE:10.5pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;</p></font></div> <div style=page:WordSection3> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>5</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in -0.5in 0pt 0in; TEXT-AUTOSPACE:'>&nbsp;</p> <div align=center> <table width=1067 bordercolor=transparent style="WIDTH:799.9pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=100% colspan=19 nowrap style="HEIGHT:15pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style=FONT-SIZE:11pt>ITUS CORPORATION AND SUBSIDIARIES<br><a name=SHAREHOLDERS>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS&#146; EQUITY</a><br>FOR THE&nbsp;NINE MONTHS ENDED JULY 31, 2016 <br>(UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=17% colspan=4 nowrap style="HEIGHT:15pt; WIDTH:17.9%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=20% colspan=4 nowrap style="HEIGHT:15pt; WIDTH:20.42%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=9% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:9%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:11pt>Additional</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Paid-in</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Capital</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=9% colspan=2 nowrap style="HEIGHT:15pt; WIDTH:9.94%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=8% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:8.94%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:11pt>Total</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Shareholders&#146;</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Equity</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=17% colspan=4 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:17.9%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Preferred Stock</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=20% colspan=4 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:20.42%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Common Stock</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=9% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:9.94%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Accumulated</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Deficit</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:7.46%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp; Shares</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:8.98%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Par Value</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:8.72%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Shares</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=10% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:10.22%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Par Value</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.74%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Balance, October 31, 2015</font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">140 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">14,000 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,724,878 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.74%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">87,249 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">151,101,117 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(146,148,765)</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">5,053,601 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Stock option compensation to employees and directors</font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.74%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">570,190 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">570,190 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Common stock issued upon exercise of stock options</font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,080 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.74%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">91 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">23,290 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">23,381 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Common stock issued to consultants </font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">9,795 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.74%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">98 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">27,898 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">27,996 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Common stock issued to acquire patents </font></p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.72%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,000 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.74%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">40 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">11,760 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="HEIGHT:15pt; WIDTH:8.44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="HEIGHT:15pt; WIDTH:7.44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">11,800 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=27% nowrap style="HEIGHT:15pt; WIDTH:27.84%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net loss</font></p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:7.46%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.48%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:7.5%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:8.72%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.48%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:8.74%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-&nbsp; </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.5%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:7.5%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.48%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.5%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:8.44%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(3,968,758)</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.5%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1.5%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:7.44%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(3,968,758)</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=27% nowrap style="HEIGHT:15.75pt; WIDTH:27.84%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Balance, July 31, 2016</font></p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:7.46%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">140 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.48%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:7.5%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">14,000 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:8.72%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">8,747,753 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.48%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:8.74%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">87,478 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.5%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:7.5%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">151,734,255 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.48%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.5%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=8% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:8.44%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(150,117,523)</font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.5%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1.5%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=7% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:7.44%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,718,210 </font></p></td></tr></table></div> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:center; MARGIN:0in 0in 6pt; TEXT-AUTOSPACE:' align=center><font style='FONT-FAMILY:"Times New Roman","serif"'>The accompanying notes are an integral part of these condensed consolidated financial statements.</font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:center; MARGIN:0in 0in 6pt 0.25in; TEXT-AUTOSPACE:' align=center><font style='FONT-FAMILY:"Times New Roman","serif"'>6</font></p></div> <div style=page:WordSection4> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:'>&nbsp;</p> <div align=center> <table width=1000 bordercolor=transparent style="WIDTH:750pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=100% colspan=6 nowrap style="HEIGHT:15pt; WIDTH:100%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style=FONT-SIZE:11pt>ITUS CORPORATION AND SUBSIDIARIES<br><a name=CF>CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS<br></a>(UNAUDITED)</font></u></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=30% colspan=5 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:30%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">For the Nine Months Ended</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">July 31,</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=14% colspan=2 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2016</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=14% colspan=2 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:14%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2015</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Reconciliation of net loss to net cash (used in) provided by operating activities:</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net loss income</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(3,968,758)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(86,630)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Stock option compensation to employees, directors and consultants</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">570,190 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,338,299 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Common stock issued to consultants </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">27,996 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">46,100 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Amortization of patents</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">243,972 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">243,972 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accretion of interest on patent acquisition obligations to interest expense</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">383,238 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">333,779 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Common stock issued to acquire patent license</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">11,800 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Loss on acquisition of 32,000 shares of common stock and cancellation of warrants to purchase 16,000<br>&nbsp;&nbsp;&nbsp; shares of common stock</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">101,280 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Other</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">24,915 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">19,363 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Change in operating assets and liabilities:</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accounts receivable</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">400,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Prepaid expenses and other current assets</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">70,100 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(133,035)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accounts payable and accrued expenses</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">150,859 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(813,300)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:20pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Royalties and contingent legal fees payable</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(213,017)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(284,536)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:30pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net cash (used in) provided by operating activities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(2,698,705)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,165,292 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Cash flows from investing activities:</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=72% colspan=2 nowrap style="HEIGHT:15pt; WIDTH:72%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Disbursements to acquire short-term investments in certificates of deposit&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(1,900,000)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(2,550,000)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Proceeds from maturities and sales of short-term investments in certificates of deposit </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,400,000 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,650,000 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Purchase of property and equipment</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(144,650)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(54,776)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:30pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net cash provided by investing activities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">355,350 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">45,224 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Cash flows from financing activities:</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp; </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Proceeds from exercise of employee stock options</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">23,381 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">34,335 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% style="HEIGHT:15.75pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Payments to acquire 32,000 share common stock and cancellation of warrants to purchase 16,000 shares common stock</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(445,252)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:30pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net cash provided by (used in) financing activities</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">23,381 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(410,917)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Net (decrease) increase in cash and cash equivalents </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(2,319,974)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,799,599 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Cash and cash equivalents at beginning of period</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,369,219 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,361,246 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% style="HEIGHT:15.75pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Cash and cash equivalents at end of period</font></p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,049,245 </font></p></td> <td width=2% style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">5,160,845 </font></p></td></tr></table></div> <div align=center>&nbsp;</div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:11pt>The accompanying notes are an integral part of these statements.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>7</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><u><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'></u>&nbsp;</p></div> <div style=page:WordSection5> <p style='FONT-SIZE:12pt; TEXT-DECORATION:underline; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:left; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=left><font style='FONT-SIZE:11pt; TEXT-DECORATION:none; FONT-FAMILY:"Times New Roman","serif"' color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; TEXT-DECORATION:underline; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style='FONT-FAMILY:"Times New Roman","serif"'>ITUS CORPORATION AND SUBSIDIARIES</font></p> <p style='FONT-SIZE:12pt; TEXT-DECORATION:underline; FONT-FAMILY:"Times New Roman","serif"; PAGE-BREAK-AFTER:avoid; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style='FONT-FAMILY:"Times New Roman","serif"'><a name=NOTES>NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</a><br></font>(UNAUDITED)</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:'>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>BUSINESS&nbsp;AND&nbsp;FUNDING</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:'><u>Description of Business</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>As used herein, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; the &#147;Company&#148; or &#147;ITUS&#148; means ITUS Corporation and its wholly-owned subsidiaries.&nbsp; <font style=COLOR:black>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&#146;s assets, seek reparations from a previous joint development partner, change the Company&#146;s name and ticker symbol, relocate the Company&#146;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&#146;s stock was accepted for listing and began trading on the NASDAQ Capital Market. </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'><font style=COLOR:black>In June of 2015, the Company announced its intention to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, the Company entered into a collaborative research agreement with The Wistar Institute (&#147;Wistar&#148;), the nation&#146;s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating the Company&#146;s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by the Company and associated with solid tumors. This cancer diagnostic platform being developed with Wistar is called Cchek</font><sup>TM</sup><font style=COLOR:black>.&nbsp; In October of 2015, the Company and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by the Company, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted and in April 2016, the Company announced that its Cchek</font><sup>TM </sup><font style=COLOR:black>cancer diagnostic platform was successfully used to detect the presence of lung cancer.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'><font style=COLOR:black>Over the next several quarters, we expect cancer diagnostics to be the primary focus of the Company. On August 15, 2016, the Company announced that it has extended and expanded its arrangement with Wistar with respect to the development of Cchek</font><sup>TM</sup><font style=COLOR:black>. As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company&#146;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.&nbsp; We do not expect these activities to be a significant part of the Company&#146;s ongoing operations.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>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. T<font style=COLOR:black>he Company expects to make investments in and form new companies to develop additional emerging technologies.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style="FONT-SIZE:10pt; COLOR:black">8</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; TEXT-AUTOSPACE:; MARGIN-RIGHT:0in'><u>AUO Lawsuit and Settlement</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;</font><font style=COLOR:black>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; On December 29, 2014, </font><font style=COLOR:black>the Company settled a </font><font style=COLOR:black>lawsuit filed by the Company against </font><font style=COLOR:black>AU Optronics Corporation (&#147;AUO&#148;) </font><font style=COLOR:black>in connection with the joint development and commercialization of certain of the Company&#146;s patented technologies </font><font style=COLOR:black>and received an aggregate of $9,000,000 from AUO. </font><font style=COLOR:black>&nbsp;</font>For more information regarding the settlement with AUO, please refer to our Annual Report on Form 10-K filed with the <font style=COLOR:black>Securities and Exchange Commission (the &#147;SEC&#148;) </font>December 23, 2015.</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>Funding and Management&#146;s Plans</font></u></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style="BACKGROUND:white; COLOR:black">During the nine months ended July 31, 2016, cash used in operating activities was approximately $2,699,000.&nbsp; Net cash provided by investing activities was approximately $355,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,400,000, which was offset by the purchase&nbsp;of certificates of deposit totaling $1,900,000 and the purchase of property and equipment of approximately $145,000.&nbsp; Cash provided by financing activities was approximately $23,000, representing proceeds from the exercise of stock options.&nbsp; As a result, our cash, cash equivalents and short-term investments at July 31, 2016 decreased by approximately $2,820,000 to approximately $3,949,000 from approximately $6,769,000 at the end of fiscal year 2015.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>Based on currently available information as of August 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style=COLOR:black>Reverse Stock Split</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:40.5pt'>On June 26, 2015, we effected a 1-for-25 reverse stock split (the &#147;Stock Split&#148;) of our issued common stock and preferred stock. Each shareholder&#146;s percentage ownership and proportional voting power remained unchanged as a result of the Stock Split. All applicable share data, per share amounts and related information in the condensed consolidated financial statements and notes thereto have been adjusted retroactively to give effect to the Stock Split.&nbsp; As a result of the Stock Split, the number of shares of our common stock and preferred stock authorized was also decreased by the same proportion as the outstanding shares.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:40.5pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>9</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:40.5pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u>Basis of Presentation</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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 (&#147;US GAAP&#148;).&nbsp; The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July 31, 2016, and results of operations and cash flows for the interim periods represented.&nbsp; The results of operations for the nine and three months ended July 31, 2016 are not necessarily indicative of the results to be expected for the entire year.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u>Revenue Recognition</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>Revenue is recognized when (i) persuasive evidence of an arrangement exists, (ii) all obligations have been substantially performed pursuant to the terms of the arrangement, (iii) amounts are fixed or determinable, and (iv) the collectability of amounts is reasonably assured.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'><u><font style=COLOR:black>Patent Licensing</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>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;(i) the grant of a non-exclusive, retroactive and future license to manufacture and/or sell products covered by patented technologies owned or controlled by the Company, (ii) a covenant-not-to-sue, (iii) the release of the licensee from certain claims, and (iv) the dismissal of any pending litigation.&nbsp;&nbsp;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&nbsp;&nbsp;Pursuant to the terms of these agreements, we had no further obligations. &nbsp;&nbsp;As such, the earnings process was complete and revenue has been recognized upon the execution of the agreement, when collectability was reasonably assured, and when all other revenue recognition criteria were met.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=FONT-SIZE:10pt>10</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u>Intangible Assets</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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 nine months ended July 31, 2016 and 2015. We recorded patent amortization expense of approximately $244,000 and $244,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $81,000 and $81,000 during the three months ended July 31, 2016 and 2015, respectively.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px"><u>Impairment</u></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0.5in" align=justify>Long-lived assets, including intangible assets that are amortized, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates potential impairment by comparing the carrying amount of the assets with the estimated undiscounted future cash flows associated with them. Should the analysis indicate that an asset is not recoverable, the carrying value of the asset would be reduced to fair value and a corresponding charge would be recognized.</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:0.5in" align=justify>Intangible assets that are not amortized are reviewed for impairment at least annually. The Company evaluates potential impairment by comparing the carrying amount of the asset with its estimated fair value. Should the carrying amount exceed the estimated fair value, a corresponding charge would be recognized for the difference.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>2.&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; <u>STOCK BASED COMPENSATION</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The Company maintains stock equity incentive plans under which the Company grants non-qualified stock options, stock appreciation rights, stock awards, performance awards, or stock units to employees, directors and consultants.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u>Stock Option Compensation Expense </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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 <font style=COLOR:black>years</font>. We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $570,000 and $1,671,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $240,000 and $445,000 during the three months ended July 31, 2016 and 2015, respectively.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The compensation cost for stock options granted to consultants is measured based on <font style=COLOR:black>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.</font> We recorded stock-based compensation expense, related to stock options granted to consultants, of approximately $-0- and $668,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $-0- and $335,000 during the three months ended July 31, 2016 and 2015, respectively.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u>Stock Option Activity </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>During the nine months ended July 31, 2016 and 2015, we granted options to purchase 545,000 shares and 60,400 shares of common stock, respectively, to employees and directors at weighted average exercise prices of $2.92 and $2.91 per share, respectively, pursuant to the ITUS Corporation 2010 Share Incentive Plan (the "2010 Share Plan&#148;).&nbsp; During the nine months ended July 31, 2016, stock options to purchase 9,080 shares of common stock were exercised with aggregate proceeds of approximately $23,000. &nbsp;During the nine months ended July 31, 2015, stock options to purchase 13,334 shares of common stock were exercised with aggregate proceeds of approximately $34,000. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>11</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:'><u>Stock&nbsp;Option&nbsp;Plans</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>As of July 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The 2003 Share Plan provided 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 July 31, 2013. &nbsp;Information regarding the 2003 Share Plan for the nine months ended July 31, 2016 is as follows:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=57% nowrap style="HEIGHT:15pt; WIDTH:57.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=14% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:14.58%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average Exercise</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Price Per Share</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12.76%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Aggregate</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Intrinsic </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Value</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=57% nowrap style="HEIGHT:15pt; WIDTH:57.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=57% nowrap style="HEIGHT:15pt; WIDTH:57.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.66%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Shares</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=57% nowrap style="HEIGHT:15pt; WIDTH:57.68%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding at October 31, 2015</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.66%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">366,200 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=13% nowrap style="HEIGHT:15pt; WIDTH:13.46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">17.86 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.08%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.68%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=57% nowrap style="HEIGHT:15pt; WIDTH:57.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Exercised</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(9,080)</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=13% nowrap style="HEIGHT:15pt; WIDTH:13.46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2.58 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.08%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=57% nowrap style="HEIGHT:15pt; WIDTH:57.68%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Forfeited</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11.66%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">(120,320)</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=13% nowrap style="HEIGHT:15pt; WIDTH:13.46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">17.89 </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.66%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1.08%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11.68%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15.75pt> <td width=57% nowrap style="HEIGHT:15.75pt; WIDTH:57.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding and exercisable at&nbsp; July 31, 2016</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11.66%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:2.9pt" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">236,800 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=13% nowrap style="HEIGHT:15.75pt; WIDTH:13.46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">18.43 </font></p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.66%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1.08%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15.75pt; WIDTH:11.68%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">20,040 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>The following table summarizes information about stock options outstanding and exercisable under the 2003 Share Plan as of July 31, 2016: </font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:22%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Outstanding</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">and</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercisable</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:22%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">(in years)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=18% nowrap style="HEIGHT:15pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=30% nowrap style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=18% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Price</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:30%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Range of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Prices</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp; $1.79 - $7.75</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">43,200</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">1.94</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:15pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2.89 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp; $13.50 - $17.50</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="HEIGHT:15pt; WIDTH:22%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">59,600</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="HEIGHT:15pt; WIDTH:22%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">.58</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:15pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">16.75 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp; $18.75 - $23.00</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">94,000</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">1.08</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:15pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">22.04 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">$29.25 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="HEIGHT:15pt; WIDTH:22%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">40,000</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="HEIGHT:15pt; WIDTH:22%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">1.06</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:15pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">29.25 </font></p></td></tr></table></div> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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 July 31, 2016, the 2010 Share Plan had 443,955 shares available for future grants.&nbsp; Information regarding the 2010 Share Plan for the nine months ended July 31, 2016 is as follows: </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average Exercise</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Price Per Share</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Aggregate</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Intrinsic </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Value</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Shares</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding at October 31, 2015</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">526,272 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3.33 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Granted</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">545,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2.92 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15.75pt> <td width=56% nowrap style="HEIGHT:15.75pt; WIDTH:56%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding at July 31, 2016</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,071,272 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3.12 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt>$</font></p></td> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">390,302</font></p></td></tr> <tr style=HEIGHT:16.5pt> <td width=56% nowrap style="HEIGHT:16.5pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Exercisable at July 31, 2016</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:16.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">582,646 </font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:16.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3.21 </font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:16.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">254,979</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in' align=center><font style=FONT-SIZE:10pt>12</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of July 31, 2016:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=4 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=4 nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Options Exercisable</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=5 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Contractual Life </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">(in years)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=5 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Contractual Life </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">(in years)</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Price</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Price</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Range of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Prices</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Outstanding</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercisable</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">$2.58 - $9.25</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,071,272</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">6.84</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3.12 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">582,646</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">6.39</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3.21 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, the Board of Directors approved the grant of stock options to purchase 1,780,000 shares.&nbsp; Information regarding stock options outstanding that were not granted under the 2003 Plan or the 2010 Plan for the nine months ended July 31, 2016 is as follows: </p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average Exercise</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Price Per Share</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Aggregate</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Intrinsic </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Value</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=56% nowrap style="HEIGHT:15pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Shares</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15.75pt> <td width=56% nowrap style="HEIGHT:15.75pt; WIDTH:56%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding at October 31, 2015</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,780,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2.70 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15.75pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="HEIGHT:15.75pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td></tr> <tr style=HEIGHT:16.5pt> <td width=56% nowrap style="HEIGHT:16.5pt; WIDTH:56%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Options Outstanding and exercisable at July 31, 2016</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:16.5pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,780,000 </font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:16.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2.70 </font></p></td> <td width=2% nowrap style="HEIGHT:16.5pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:16.5pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:16.5pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">416,010</font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>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 July 31, 2016:</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:22%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Number</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Outstanding</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">and</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercisable</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=22% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:22%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=4 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Remaining</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Contractual Life</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">(in years)</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=18% nowrap style="HEIGHT:15pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=30% nowrap style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=18% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:18%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=3 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Weighted</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Average</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Price</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:30%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Range of</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Exercise Prices</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=18% style="HEIGHT:15pt; WIDTH:18%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td></tr> <tr style=HEIGHT:15pt> <td width=30% style="HEIGHT:15pt; WIDTH:30%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">$2.58 - $5.56</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">1,780,000</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=22% style="HEIGHT:15pt; WIDTH:22%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">6.01</font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=18% style="HEIGHT:15pt; WIDTH:18%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2.70 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style=COLOR:black>Stock Awards </font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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 nine months ended July 31, 2016 and 2015, we issued 9,795 shares and 11,600 shares, respectively, of common stock to consultants for services rendered.&nbsp; We recorded consulting expense for the nine months ended July 31, 2016 and 2015 of approximately $28,000 and $46,000, respectively, for the shares of common stock issued to consultants.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>13</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:'>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>FAIR VALUE MEASUREMENTS</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Financial assets and liabilities recorded in the accompanying condensed consolidated balance sheets are categorized based on the inputs to the valuation techniques as follows:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>Level 1 - Financial assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market which we have the ability to access at the measurement date.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>Level 3 &#150; Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management&#146;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of July 31, 2016: </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=44% nowrap style="HEIGHT:15pt; WIDTH:44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;</font></p></td> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 1</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 2</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 3</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=44% nowrap style="HEIGHT:15pt; WIDTH:44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp; </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=44% nowrap style="HEIGHT:15pt; WIDTH:44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Money market funds &#150;&nbsp;&nbsp; Cash equivalents</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,413,112 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,413,112 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=44% nowrap style="HEIGHT:15pt; WIDTH:44%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Certificates of deposit - Short-term investments</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,900,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,900,000 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=44% nowrap style="HEIGHT:15.75pt; WIDTH:44%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total financial assets</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,413,112 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">1,900,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,313,122 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of October 31, 2015:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;</font></p></td> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 1</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 2</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 3</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp; </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Money market funds &#150;&nbsp; Cash equivalents</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">467,967 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">467,967 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Certificates of deposit - Short-term investments</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,400,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:1%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,400,000 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=46% nowrap style="HEIGHT:15.75pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:10pt; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Total financial assets</font></p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">467,967 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,400,000 </font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15.75pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right>&nbsp;</p></td> <td width=1% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:1%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:11%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">2,867,967 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>14</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest as of July 31, 2016:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;</font></p></td> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 1</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 2</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 3</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp; </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Patent acquisition obligation</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,071,425 </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,071,425 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest as of October 31, 2015:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;</font></p></td> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 1</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 2</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Level 3</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:11%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">Total</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">&nbsp; </font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=46% nowrap style="HEIGHT:15pt; WIDTH:46%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Patent acquisition obligation</font></p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">-</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% nowrap style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,688,187&nbsp; </font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=1% nowrap style="HEIGHT:15pt; WIDTH:1%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=11% style="HEIGHT:15pt; WIDTH:11%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,688,187&nbsp; </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:40.5pt'>The following table sets forth the changes in the fair value of the Company&#146;s Level 3 financial liabilities that are measured at fair value on a non-recurring basis:</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550.1pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style="FONT-SIZE:11pt; COLOR:black">Patent acquisition obligation</font></u></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Balance October 31, 2015</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">3,688,187 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=86% nowrap style="HEIGHT:15pt; WIDTH:86%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accreted interest on patent obligation</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">383,238 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=86% nowrap style="HEIGHT:15.75pt; WIDTH:86%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Balance July 31, 2016</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">4,071,425 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; LINE-HEIGHT:0.05pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=COLOR:black>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>INVESTMENTS</u></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>At July 31, 2016 and October 31, 2015, we had <font style=COLOR:black>certificates of deposit </font>of $1,900,000 and $2,400,000, respectively, which were classified as <font style=COLOR:black>short-term investments and reported at fair value.&nbsp; </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:10pt; COLOR:black">15</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric'>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>ACCOUNTS PAYABLE AND ACCRUED EXPENSES</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>Accounts payable and accrued expense consist of the following as of:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <div align=center> <table width=733 bordercolor=transparent style="WIDTH:550pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">July 31, </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2016</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% colspan=2 style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" rowspan=2 valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">October 31, </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:11pt; COLOR:black">2015</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% nowrap style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accounts payable</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">444,822 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="HEIGHT:15pt; WIDTH:12%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">374,703 </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Payroll and related expenses</font></p></td> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">49,932 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="HEIGHT:15pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=12% style="HEIGHT:15pt; WIDTH:12%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=70% style="HEIGHT:15pt; WIDTH:70%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">Accrued other</font></p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">36,870 </font></p></td> <td width=2% style="HEIGHT:15pt; WIDTH:2%; BACKGROUND:#cceeff; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:2%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:12%; BACKGROUND:#cceeff; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">6,062 </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=70% style="HEIGHT:15.75pt; WIDTH:70%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">531,624 </font></p></td> <td width=2% style="HEIGHT:15.75pt; WIDTH:2%; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=2% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:2%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style="FONT-SIZE:11pt; COLOR:black">$</font></p></td> <td width=12% style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:12%; BORDER-BOTTOM:windowtext 2.25pt double; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:right; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=right><font style="FONT-SIZE:11pt; COLOR:black">380,765 </font></p></td></tr></table></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:'>6.&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>NET LOSS PER SHARE OF COMMON STOCK </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Basic net income (loss) per common share (&#147;Basic EPS&#148;) is computed by dividing net income (loss) by the weighted average number of common shares outstanding.&nbsp; Diluted net income (loss) per common share (&#147;Diluted EPS&#148;) is computed by dividing net income (loss) by the weighted average number of common shares and dilutive common share equivalents and convertible securities then outstanding.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Diluted EPS for all periods presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive.&nbsp; For this reason, excluded from the calculation of Diluted EPS for the nine and three months ended July 31, 2016 and 2015, were stock options to purchase 3,088,072 and 2,724,072 shares, respectively, warrants to purchase 707,387 and 1,028,932 shares, respectively and preferred stock convertible into 739,958 shares.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS</u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (&#147;ASU 2014-09&#148;), Revenue from Contracts with Customers.&nbsp; This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In June 2014, the FASB issued Accounting Standards Update 2014-12 (&#147;ASU 2014-12&#148;), Compensation &#150; Stock Compensation.&nbsp; This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;&nbsp;&nbsp;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In August 2014, the FASB issued Accounting Standards Update 2014-15 (&#147;ASU 2014-15&#148;).&nbsp; This amendment requires management to assess an entity&#146;s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>16</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In April 2015, the FASB issued Accounting Standards Update 2015-03 (&#147;ASU 2015-03&#148;) to simplify the presentation of debt issuance costs. This 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. The adoption of this amendment did not have an impact on our financial position or results of operations.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In November 2015, the FASB issued Accounting Standards Update 2015-17 (&#147;ASU 2015-17&#148;) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet.&nbsp; Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In February 2016, the FASB issued Accounting Standards Update 2016-02 (&#147;ASU 2016-02&#148;) which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. We are currently evaluating the impact ASU 2016-02 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In March 2016, the FASB issued Accounting Standards Update 2016-09 (&#147;ASU 2016-09&#148;) that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also allows an employer to repurchase more of an employee&#146;s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election for forfeitures as they occur. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. We are currently evaluating the impact ASU 2016-09 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>INCOME TAXES </u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>We file Federal, New York State and California State income tax returns.&nbsp; Due to net operating losses, the statute of limitations for Federal and New York State income tax returns remains open to examination by taxing authorities since the fiscal year ended October 31, 1997. We account for interest and penalties related to income tax matters, if any, in marketing, general and administrative expenses. There are no unrecognized income tax benefits as of July 31, 2016 and October 31, 2015.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:10pt; COLOR:black">17</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>We recognize deferred tax assets and liabilities for the estimated future tax effects of events that have been recognized in our financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect in the years in which the differences are expected to reverse.&nbsp; A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount expected to be realized.</font> We have substantial net operating loss carryforwards 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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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, but not for the fiscal year ended October 31, 2015.&nbsp; Accordingly, we have not recorded a tax provision for the nine months ended July 31, 2015.</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>COMMITMENT AND CONTINGENCES</u>&nbsp; </font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style=COLOR:black>Patent Acquisition Obligations</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 12pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'><font style=COLOR:black>As of July 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 $4,071,000, 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 $383,000 and $334,000, respectively, for the nine months ended July 31, 2016 and 2015, for the accretion of interest on patent acquisition obligations.</font></p> <p style='FONT-SIZE:10pt; FONT-FAMILY:"Times New Roman"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"'>Litigation Matters</font></u></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; TEXT-AUTOSPACE:; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in'><font style=COLOR:black>On December 29, 2014, we settled our lawsuit against AUO which had been filed on January 28, 2013 (Note 1). </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; TEXT-AUTOSPACE:ideograph-numeric; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in'><font style=COLOR:black>Other than suits we bring to enforce patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN-LEFT:0in; TEXT-AUTOSPACE:ideograph-numeric; MARGIN-RIGHT:0in' align=center><font style="FONT-SIZE:10pt; COLOR:black">18</font></p> <div style="TEXT-ALIGN:center; TEXT-AUTOSPACE:ideograph-numeric" align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'><b><font style=COLOR:black><a name=MANA>Item 2.&nbsp;&nbsp;&nbsp;&nbsp; <u>Management's Discussion and Analysis of Financial Condition and Results of Operations.</u></a>&nbsp;&nbsp; </font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><u><font style=COLOR:black>GENERAL</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>As used herein, &#147;we,&#148; &#147;us,&#148; &#147;our,&#148; the &#147;Company&#148; or &#147;ITUS&#148; means ITUS Corporation and its wholly-owned subsidiaries.&nbsp; <font style=COLOR:black>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&#146;s assets, seek reparations from a previous joint development partner, change the Company&#146;s name and ticker symbol, relocate the Company&#146;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&#146;s stock was accepted for listing and began trading on the NASDAQ Capital Market. </font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'><font style=COLOR:black>In June of 2015, the Company announced its intention to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, the Company entered into a collaborative research agreement with The Wistar Institute (&#147;Wistar&#148;), the nation&#146;s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating the Company&#146;s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by the Company and associated with solid tumors. This cancer diagnostic platform being developed with Wistar is called Cchek</font><sup>TM</sup><font style=COLOR:black>.&nbsp; In October of 2015, the Company and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by the Company, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted and in April 2016, the Company announced that its Cchek</font><sup>TM </sup><font style=COLOR:black>cancer diagnostic platform was successfully used to detect the presence of lung cancer.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'><font style=COLOR:black>Over the next several quarters, we expect cancer diagnostics to be the primary focus of the Company. On August 15, 2016, the Company announced that it has extended and expanded its arrangement with Wistar with respect to the development of Cchek</font><sup>TM</sup><font style=COLOR:black>.&nbsp; As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company&#146;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.&nbsp; We do not expect these activities to be a significant part of the Company&#146;s ongoing operations.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>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. T<font style=COLOR:black>he Company expects to make investments in and form new companies to develop additional emerging technologies.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>19</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <h4 style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","sans-serif"; PAGE-BREAK-AFTER:auto; FONT-WEIGHT:bold; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><u><font style='FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>RESULTS OF OPERATIONS</font></u></h4> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in -9pt 0pt 0in; TEXT-AUTOSPACE:'><b><u><font style=COLOR:black>Nine months ended July 31, 2016 compared with nine months ended July 31, 2015</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 12pt 0.5in; TEXT-AUTOSPACE:'><font style=COLOR:black>Revenue from Patent Licensing Activities</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In June 2015, the Company announced its intention to shift its focus to cancer diagnostics and away from patent licensing.&nbsp; For the nine months ended July 31, 2016, we recorded revenue from patent licensing activities of $100,000 from 1 license agreement. &nbsp;We did not record any revenue from <font style=COLOR:black>Cchek</font><sup>TM</sup> and do not expect to record any revenue in the immediate future.&nbsp; During the nine months ended July 31, 2015, we recorded revenue from patent licensing activities of $255,000 from 3 license agreements. The license agreements 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 earnings process from these licenses was complete and 100% of the revenue was recognized upon execution of the license agreements.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:'><font style=COLOR:black>Revenue from Settlement with AU Optronics Corporation</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>We did not record any revenue from settlement with AUO during the nine months ended July 31, 2016.&nbsp; <font style=COLOR:black>Revenue from the settlement with AUO was $9,000,000 for the nine months ended July 31, 2015.&nbsp; On December 29, 2014, the Company </font><font style=COLOR:black>and AUO entered into a Settlement Agreement (the &#147;AUO Settlement Agreement&#148;) and a Patent Assignment Agreement (the &#147;AUO Patent Assignment Agreement&#148;) pursuant to which the Company received an aggregate of $9,000,000 from AUO. The 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&#146;s thin-film display technologies.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i>I</i></b><b><i><font style=COLOR:black>nventor Royalties and Contingent Legal Fees </font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Inventor royalties and contingent legal fees were approximately $62,000 for the nine months ended July 31, 2016, compared to approximately $153,000 in the comparable prior year period. &nbsp;Inventor royalties and contingent legal fees are expensed in the period that the related revenues are recognized.&nbsp; The economic terms of patent agreements and contingent legal fee arrangements vary across the patent portfolios owned or controlled by our operating subsidiaries.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i><font style=COLOR:black>Litigation and Licensing Expenses</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Litigation and licensing expenses were approximately $84,000 in the nine months ended July 31, 2016 compared to approximately $3,473,000 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.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:10pt; COLOR:black">20</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i><font style=COLOR:black>Amortization of Patents</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Amortization of patents was approximately $244,000 in each of the nine month periods ended July 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; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:'><font style=COLOR:black>Marketing, General and Administrative Expenses</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Marketing, general and administrative expenses decreased by approximately $1,846,000 to approximately $3,306,000 in the nine months ended July 31, 2016, from approximately $5,152,000 in the nine months ended July 31, 2015. The decrease in marketing, general and administrative expenses was principally due to a decrease in employee stock option expense of approximately $1,100,000, a decrease in consultant stock option expense of approximately $668,000, a decrease in consulting and outside services expense, other than stock option expense, of approximately $190,000, a decrease in legal and auditing fees of approximately $173,000 and a decrease in non-recurring costs associated with a former employee&#146;s severance arrangements of approximately $101,000, offset by an increase in investor relations and public relations expense of approximately $190,000 and an increase in outside research and development expense of approximately $128,000.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i>Interest Expense</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Interest expense increased by approximately $49,000 to approximately $383,000 for the nine months ended July 31, 2016 from approximately $334,000 in the nine months ended July 31, 2015.&nbsp; Interest expense in both periods represents the accreted interest on our patent acquisition obligation.&nbsp;Reference is made to Note 9 of the condensed consolidated financial statements above.&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i>Interest Income </i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Interest income decreased to approximately $10,000 in the nine months ended July 31, 2016 compared to approximately $14,000 in the nine months ended July 31, 2015 due to a decrease in the amount invested in money market funds and certificates of deposit during the current period.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in -9pt 0pt 0in; TEXT-AUTOSPACE:'><b><u><font style=COLOR:black>Three months ended July 31, 2016 compared with three months ended July 31, 2015</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 12pt 0.5in; TEXT-AUTOSPACE:'><font style=COLOR:black>Revenue from Patent Licensing Activities</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In June 2015, the Company announced its intention to shift its focus to cancer diagnostics and away from patent licensing.&nbsp;For the three months ended July 31, 2016, we recorded revenue from patent licensing activities of $100,000 from 1 license agreement. We did not record any revenue from <font style=COLOR:black>Cchek</font><sup>TM</sup> and do not expect to record any revenue in the immediate future.&nbsp;During the three months ended July 31, 2015, we recorded revenue from patent licensing activities of $95,000 from 1 license agreement. The license agreements 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. Accordingly, the earnings process from these licenses was complete and 100% of the revenue was recognized upon execution of the license agreements.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>21</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i>I</i></b><b><i><font style=COLOR:black>nventor Royalties and Contingent Legal Fees </font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Inventor royalties and contingent legal fees were approximately $62,000 for the three months ended July 31, 2016, compared to approximately $49,000 in the comparable prior year period.&nbsp; Inventor royalties and contingent legal fees are expensed in the period that the related revenues are recognized.&nbsp; The economic terms of patent agreements and contingent legal fee arrangements vary across the patent portfolios owned or controlled by our operating subsidiaries.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i><font style=COLOR:black>Litigation and Licensing Expenses</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Litigation and licensing expenses were approximately $9,000 in the three months ended July 31, 2016 compared to approximately $33,000 in the comparable prior year period.&nbsp; Litigation and licensing expenses, other than contingent legal fees, are expensed in the period incurred.&nbsp; This reflects the change in our business plan from 2015 to 2016.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i><font style=COLOR:black>Amortization of Patents</font></i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Amortization of patents was approximately $81,000 in each of the three month periods ended July 31, 2016 and 2015, respectively.&nbsp; We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt 0.5in; TEXT-AUTOSPACE:'><font style=COLOR:black>Marketing, General and Administrative Expenses</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:bold; FONT-STYLE:italic; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Marketing, general and administrative expenses decreased by approximately $500,000 to approximately $923,000 in the three months ended July 31, 2016, from approximately $1,423,000 in the three months ended July 31, 2015. The decrease in marketing, general and administrative expenses was principally due to a decrease in employee stock option expense of approximately $205,000 and a decrease in consultant stock option expense of approximately $335,000. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i>Interest Expense</i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Interest expense increased by approximately $16,000 to approximately $132,000 for the three months ended July 31, 2016 from approximately $116,000 in the three months ended July 31, 2015.&nbsp; Interest expense in both periods represents the accreted interest on our patent acquisition obligation. Reference is made to Note 9 of the condensed consolidated financial statements above.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><i>Interest Income </i></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Interest income decreased to approximately $3,000 in the three months ended July 31, 2016 compared to approximately $5,000 in the three months ended July 31, 2015 due to a decrease in the amount invested in money market funds and certificates of deposit during the current period.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in' align=center><font style=FONT-SIZE:10pt>22</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0in'><b><u><font style=COLOR:black>LIQUIDITY AND CAPITAL RESOURCES</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'><font style=COLOR:black>Our primary sources of liquidity are cash, cash equivalents and short-term investments.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>Based on currently available information as of August 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='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style="BACKGROUND:white; COLOR:black">During the nine months ended July 31, 2016, cash used in operating activities was approximately $2,699,000.&nbsp; Net cash provided by investing activities was approximately $355,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,400,000, which was offset by the purchase&nbsp;of certificates of deposit totaling $1,900,000 and the purchase of property and equipment of approximately $145,000.&nbsp;Cash provided by financing activities was approximately $23,000, representing proceeds from the exercise of stock options.&nbsp; As a result, our cash, cash equivalents and short-term investments at July 31, 2016 decreased by approximately $2,820,000 to approximately $3,949,000 from approximately $6,769,000 at the end of fiscal year 2015.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><u><font style=COLOR:black>CRITIAL ACCOUNTING POLICIES</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>The Company&#146;s condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America.&nbsp;&nbsp;In preparing these financial statements, we make assumptions, judgments and estimates that can have a significant impact on amounts reported in our consolidated financial statements. We base our assumptions, judgments and estimates on historical experience and various other factors that we believe to be reasonable under the circumstances. Actual results could differ materially from these estimates under different assumptions or conditions. On a regular basis, we evaluate our assumptions, judgments and estimates and make changes accordingly.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>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:</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; LINE-HEIGHT:115%; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:-0.25in'><font style="FONT-SIZE:12pt; FONT-FAMILY:Symbol; LINE-HEIGHT:115%">&#183;<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'>Revenue Recognition; and</font></p> <p style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","sans-serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 10pt 1in; LINE-HEIGHT:115%; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:-0.25in'><font style="FONT-SIZE:12pt; FONT-FAMILY:Symbol; LINE-HEIGHT:115%">&#183;<font style='FONT:7pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font></font><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:115%'>Stock-Based Compensation</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style="FONT-SIZE:10pt; COLOR:black">23</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><font style=COLOR:black>Revenue Recognition</font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>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> <h6 style='FONT-SIZE:11pt; FONT-FAMILY:"Times New Roman","serif"; FONT-WEIGHT:normal; FONT-STYLE:italic; MARGIN:12pt 0in 3pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><b><font style="FONT-SIZE:12pt; COLOR:black; FONT-STYLE:normal">Stock-Based Compensation </font></b></h6> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; BACKGROUND:white; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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 <font style=COLOR:black>years</font>. We recorded stock-based compensation expense, related to stock options granted to employees and directors, of approximately $570,000 and $1,671,000 during the nine months ended July 31, 2016 and 2015, respectively. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>The compensation cost for stock options granted to consultants is measured based on <font style=COLOR:black>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.</font> We recorded stock-based compensation expense, related to stock options granted to consultants, of approximately $-0- and $335,000 during the nine months ended July 31, 2016 and 2015, respectively. </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><u>EFFECT OF RECENTLY ISSUED PRONOUNCEMENTS</u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update 2014-09 (&#147;ASU 2014-09&#148;), Revenue from Contracts with Customers.&nbsp; This amendment updates addressing revenue from contracts with customers, which clarifies existing accounting literature relating to how and when a company recognizes revenue. Under the standard, a company will recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods and services. &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> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In June 2014, the FASB issued Accounting Standards Update 2014-12 (&#147;ASU 2014-12&#148;), Compensation &#150; Stock Compensation.&nbsp; This amendment requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. Adoption of this standard is required for annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact ASU 2014-12 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>24</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>In August 2014, the FASB issued Accounting Standards Update 2014-15 (&#147;ASU 2014-15&#148;).&nbsp; This amendment requires management to assess an entity&#146;s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In April 2015, the FASB issued Accounting Standards Update 2015-03 (&#147;ASU 2015-03&#148;) to simplify the presentation of debt issuance costs. This 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. The adoption of this amendment did not have an impact on our financial position or results of operations.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In November 2015, the FASB issued Accounting Standards Update 2015-17 (&#147;ASU 2015-17&#148;) to simplify the presentation of deferred taxes. This amendment requires that all deferred tax assets and liabilities, along with any related valuation allowances, be classified as noncurrent on the balance sheet.&nbsp; Adoption of this standard is required for annual periods beginning after December 15, 2016. We are currently evaluating the impact ASU 2015-17 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In February 2016, the FASB issued Accounting Standards Update 2016-02 (&#147;ASU 2016-02&#148;) which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. We are currently evaluating the impact ASU 2016-02 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>In March 2016, the FASB issued Accounting Standards Update 2016-09 (&#147;ASU 2016-02&#148;) that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also allows an employer to repurchase more of an employee&#146;s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election for forfeitures as they occur. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. We are currently evaluating the impact ASU 2016-09 will have on our consolidated financial statements&nbsp;and related disclosures.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=FONT-SIZE:10pt>25</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><u><font style=COLOR:black>FORWARD-LOOKING STATEMENTS</font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Information included in this Quarterly Report on Form 10-Q (this &#147;Report&#148;) contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 (the &#147;Securities Act&#148;), and Section 21E of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;).&nbsp; Forward-looking statements are not statements of historical facts, but rather reflect our current expectations concerning future events and results.&nbsp; We generally use the words &#147;believes,&#148; &#147;expects,&#148; &#147;intends,&#148; &#147;plans,&#148; &#147;anticipates,&#148; &#147;likely,&#148; &#147;will&#148; and similar expressions to identify forward-looking statements.&nbsp; Such forward-looking statements, including those concerning our expectations, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.&nbsp;&nbsp; These risks, uncertainties and factors include, but are not limited to, those factors set forth in our Annual Report on Form 10-K for the fiscal year ended October 31, 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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><font style=COLOR:black><a name=ITEM3>Item 3.&nbsp;&nbsp;&nbsp;&nbsp; <u>Quantitative and Qualitative Disclosures About Market Risk.</u></a></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric; TEXT-INDENT:0.5in'>As of July 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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><font style=COLOR:black><a name=ITEM4>Item 4.&nbsp;&nbsp;&nbsp;&nbsp; <u>Controls and Procedures.</u></a></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>We carried out an evaluation, under the supervision and with the participation of our management including our President and Chief Executive Officer and our Vice President &#150; Finance and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rule 13-15(b) of the Securities Exchange Act of 1934, as amended.&nbsp; Based upon that evaluation, our President and Chief Executive Officer and our Vice President &#150; Finance and Chief Financial Officer concluded that our disclosure controls and procedures are effective as of the end of the period covered by this report.&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>There was no change in our internal control over financial reporting during the&nbsp;third quarter of fiscal year 2016 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in' align=center><font style="FONT-SIZE:10pt; COLOR:black">26</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in' align=center><b><u><font style=COLOR:black><a name=PART2>PART II.&nbsp; OTHER INFORMATION</a></font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><a name=LEGAL>Item 1.&nbsp;&nbsp;&nbsp;&nbsp; <u>Legal Proceedings.</u></a></b>&nbsp; </p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN-LEFT:0in; TEXT-AUTOSPACE:ideograph-numeric; MARGIN-RIGHT:0in; TEXT-INDENT:0.5in'><font style=COLOR:black>Other than suits we bring to enforce our patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &nbsp;We believe that any liability that may ultimately result from the resolution of these matters will not, individually or in the aggregate, have a material adverse effect on our financial position or results of operations.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><font style=COLOR:black><a name=RISK>Item 1A.&nbsp; <u>Risk Factors</u>.</a></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>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.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><a name=Unregistered>Item 2.&nbsp;&nbsp;&nbsp;&nbsp; <u>Unregistered Sales of Equity Securities and Use of Proceeds</u>.</a> </b>&nbsp;&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:40.5pt'>During the three months ended July 31, 2016, the Company issued 9,795 shares of our common stock for payment of public relations and investor relations services. The common stock was issued in reliance on an exemption from registration under Section 4(a) (2) of the Securities Act.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:40.5pt'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><a name=SS>Item 3.&nbsp;&nbsp;&nbsp;&nbsp; <u>Defaults Upon Senior Securities</u></a></b>.<b>&nbsp; </b>None.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><a name=MINE><b>Item 4</b>.&nbsp;&nbsp;&nbsp;&nbsp; <b><u>Mine Safety Disclosures</u></b></a>.&nbsp; Not Applicable.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>27</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><a name=OTHER><b>Item 5.&nbsp;&nbsp;&nbsp;&nbsp; <u>Other Information</u></b>.</a></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; None.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'><font style=COLOR:black>(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; There have been no material changes to the procedures by which security holders may recommend nominees to the Company&#146;s board of directors.</font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><b><font style=COLOR:black><a name=ITEM6>Item 6.&nbsp; </a>&nbsp;&nbsp; <u><a name=ITEM6>Exhibits</a>.</u></font></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>31.1&nbsp;&nbsp; &nbsp;&nbsp;Certification of Chief Executive Officer, pursuant to Section 302 of&nbsp;&nbsp; the Sarbanes-Oxley Act of 2002, dated August 19, 2016.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>31.2&nbsp;&nbsp; &nbsp;&nbsp;Certification of Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002, dated August 19, 2016.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>32.1&nbsp;&nbsp;&nbsp;&nbsp; Statement of Chief Executive Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated August 19, 2016.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>32.2&nbsp;&nbsp;&nbsp;&nbsp; Statement of Chief Financial Officer, pursuant to Section 1350 of Title 18 of the United States Code, dated August 19, 2016.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt 1in; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>28</font></p> <div style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt> <hr> <div style=PAGE-BREAK-BEFORE:always>&nbsp;</div></font></div><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:'><font style=FONT-SIZE:11pt color=#0066cc><a href=#TOC>Table of Contents</a></font></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><b><u><font style=COLOR:black><a name=SIGN>SIGNATURES</a></font></u></b></p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt 1.5in; TEXT-AUTOSPACE:; TEXT-INDENT:-33pt' align=center>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:; TEXT-INDENT:0.5in'>Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; TEXT-AUTOSPACE:'>&nbsp;</p> <table width=721 bordercolor=transparent style="WIDTH:541pt; BORDER-COLLAPSE:collapse; MARGIN-LEFT:-0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=312 colspan=2 nowrap style="HEIGHT:15pt; WIDTH:3.25in; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><b><font style="FONT-SIZE:11pt; TEXT-TRANSFORM:uppercase; COLOR:black">ITUS CORPORATION</font></b></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">By:</font></p></td> <td width=283 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:212.2pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">President and Chief Executive Officer&nbsp;&nbsp; </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">August 19, 2016</font></p></td> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">(Principal Executive Officer)</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom /> </tr><tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">By:</font></p></td> <td width=283 nowrap style="BORDER-TOP:0px; HEIGHT:15pt; BORDER-RIGHT:0px; WIDTH:212.2pt; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">/s/ Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">Vice President - Finance and </font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">Chief Financial Officer (Principal</font></p></td></tr> <tr style=HEIGHT:15pt> <td width=285 nowrap style="HEIGHT:15pt; WIDTH:214pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">August 19, 2016</font></p></td> <td width=124 nowrap style="HEIGHT:15pt; WIDTH:93pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=29 nowrap style="HEIGHT:15pt; WIDTH:21.8pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in" valign=bottom> <td width=283 nowrap style="HEIGHT:15pt; WIDTH:212.2pt; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; PADDING-RIGHT:0in"> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:ideograph-numeric'><font style="FONT-SIZE:11pt; COLOR:black">Financial and Accounting Officer)</font></p></td></tr></table> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; TEXT-AUTOSPACE:'>&nbsp;</p> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:justify; MARGIN:0in 0in 0pt; LINE-HEIGHT:90%; TEXT-AUTOSPACE:'>&nbsp;</p></div><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; LINE-HEIGHT:90%'> <div style=page:WordSection6> <p style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; TEXT-ALIGN:center; MARGIN:0in 0in 0pt; TEXT-AUTOSPACE:' align=center><font style=FONT-SIZE:10pt>29</font></p></div></font></font></font></body>
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<head><title>EXHIBIT 31.1</title> </head> <body> <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 /> <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><br> <table width=600 bordercolor=transparent style="WIDTH:6.25in; BORDER-COLLAPSE:collapse; MARGIN:auto auto auto -0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>President and Chief Executive Officer </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>August 19, 2016</font></p></td> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Principal Executive Officer)</font></p></td></tr></table></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:288px" align=justify>&nbsp;&nbsp;&nbsp;</p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:288px" align=justify>&nbsp;</p> <p style="CLEAR:left; MARGIN:0px" align=center><br><br>&nbsp;</p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px><br></p> <p style=MARGIN:0px>&nbsp;</p></body>
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<TYPE>EX-31.2
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<FILENAME>exhibit31_2.htm
<DESCRIPTION>EXHIBIT 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</p> <p style="PAGE-BREAK-BEFORE:always; CLEAR:left; MARGIN:0px" align=justify><br></p> <p style="MARGIN-BOTTOM:-2px; FONT-SIZE:12pt; WIDTH:48px; FLOAT:left; MARGIN-TOP:0px">5.</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>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>&nbsp;</p> <p style="CLEAR:left; MARGIN:0px" align=justify>&nbsp;</p> <p style="CLEAR:left; MARGIN:0px" align=justify> <table width=600 bordercolor=transparent style="WIDTH:6.25in; BORDER-COLLAPSE:collapse; MARGIN:auto auto auto -0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>/s/ Henry P. Herms </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=top> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Vice President - Finance and </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Chief Financial Officer </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>August 19, 2016</font></p></td> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Principal Financial and Accounting Officer)</font></p></td></tr></table></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br>&nbsp;</p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:240px" align=justify>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br></p> <p style=MARGIN:0px align=justify><br></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 July 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="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style="FONT-SIZE:12pt; PADDING-LEFT:0px; MARGIN:0px; TEXT-INDENT:0px" align=justify> <table width=600 bordercolor=transparent style="WIDTH:6.25in; BORDER-COLLAPSE:collapse; MARGIN:auto auto auto -0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>/s/ Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>Robert A. Berman</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in"> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>President and Chief Executive Officer </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=55% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:55%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>August 19, 2016</font></p></td> <td width=45% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:45%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Principal Executive Officer)</font></p></td></tr></table></p> <p style="CLEAR:left; MARGIN:0px" align=justify><br></p> <p style=MARGIN:0px align=justify><br></p> <p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:288px" align=justify>&nbsp;&nbsp;&nbsp;</p></body>
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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 July 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="FONT-SIZE:12pt; PADDING-LEFT:48px; MARGIN:0px; TEXT-INDENT:-2px" align=justify>&nbsp;</p> <p style=FONT-SIZE:12pt align=justify> <table width=600 bordercolor=transparent style="WIDTH:6.25in; BORDER-COLLAPSE:collapse; MARGIN:auto auto auto -0.75pt" cellpadding=0 cellspacing=0> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:windowtext 1pt solid; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>/s/ Henry P. Herms </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=top> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black; LETTER-SPACING:-0.15pt'>Henry P. Herms</font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Vice President - Finance and </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>Chief Financial Officer </font></p></td></tr> <tr style=HEIGHT:15.75pt> <td width=60% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:60%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>August 19, 2016</font></p></td> <td width=40% nowrap style="BORDER-TOP:0px; HEIGHT:15.75pt; BORDER-RIGHT:0px; WIDTH:40%; BORDER-BOTTOM:0px; PADDING-BOTTOM:0in; PADDING-TOP:0in; PADDING-LEFT:0in; BORDER-LEFT:0px; PADDING-RIGHT:0in" valign=bottom> <p style="MARGIN:0in 0in 0pt; LINE-HEIGHT:normal"><font style='FONT-SIZE:12pt; FONT-FAMILY:"Times New Roman","serif"; COLOR:black'>(Principal Financial and Accounting Officer)</font></p></td></tr></table></p></body>
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  <us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;1. &lt;u&gt;BUSINESS&amp;#160;AND&amp;#160;FUNDING&lt;/u&gt; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Description of Business&lt;/u&gt; &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;As used herein, &amp;#8220;we,&amp;#8221; &amp;#8220;us,&amp;#8221; &amp;#8220;our,&amp;#8221; the &amp;#8220;Company&amp;#8221; or &amp;#8220;ITUS&amp;#8221; means ITUS Corporation and its wholly-owned subsidiaries.&amp;#160;&amp;#160;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption.&amp;#160;&amp;#160;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&amp;#8217;s assets, seek reparations from a previous joint development partner, change the Company&amp;#8217;s name and ticker symbol, relocate the Company&amp;#8217;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&amp;#8217;s stock was accepted for listing and began trading on the NASDAQ Capital Market. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In June of 2015, the Company announced its intention to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, the Company entered into a collaborative research agreement with The Wistar Institute (&amp;#8220;Wistar&amp;#8221;), the nation&amp;#8217;s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating the Company&amp;#8217;s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by the Company and associated with solid tumors. This cancer diagnostic platform being developed with Wistar is called CchekTM.&amp;#160;&amp;#160;In October of 2015, the Company and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by the Company, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted and in April 2016, the Company announced that its CchekTM cancer diagnostic platform was successfully used to detect the presence of lung cancer.&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Over the next several quarters, we expect cancer diagnostics to be the primary focus of the Company. On August 15, 2016, the Company announced that it has extended and expanded its arrangement with Wistar with respect to the development of CchekTM.&amp;#160;&amp;#160;As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company&amp;#8217;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.&amp;#160;&amp;#160;We do not expect these activities to be a significant part of the Company&amp;#8217;s ongoing operations.&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;&lt;font style=&quot;FONT-SIZE:12pt&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. The Company expects to make investments in and form new companies to develop additional emerging technologies. &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;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;AUO Lawsuit and Settlement&lt;/u&gt; &lt;/font&gt;&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;FONT-SIZE:12pt&quot;&gt;On December 29, 2014, the Company settled a lawsuit filed by the Company against AU Optronics Corporation (&amp;#8220;AUO&amp;#8221;) in connection with the joint development and commercialization of certain of the Company&amp;#8217;s patented technologies and received an aggregate of $9,000,000 from AUO. For more information regarding the settlement with AUO, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the &amp;#8220;SEC&amp;#8221;) December 23, 2015. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Funding and Management&amp;#8217;s Plans&lt;/u&gt; &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;During the nine months ended July 31, 2016, cash used in operating activities was approximately $2,699,000.&amp;#160;&amp;#160;Net cash provided by investing activities was approximately $355,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,400,000, which was offset by the purchase&amp;#160;of certificates of deposit totaling $1,900,000 and the purchase of property and equipment of approximately $145,000.&amp;#160;&amp;#160;Cash provided by financing activities was approximately $23,000, representing proceeds from the exercise of stock options.&amp;#160;&amp;#160;As a result, our cash, cash equivalents and short-term investments at July 31, 2016 decreased by approximately $2,820,000 to approximately $3,949,000 from approximately $6,769,000 at the end of fiscal year 2015. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Based on currently available information as of August 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;#160; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&amp;#160; 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;#160; 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;#160; &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;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Reverse Stock Split&lt;/u&gt; &lt;/font&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;font-size: 12pt;&quot;&gt;On June 26, 2015, we effected a 1-for-25 reverse stock split (the &amp;#x201c;Stock Split&amp;#x201d;) of our issued common stock and preferred stock. Each shareholder&amp;#x2019;s 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;#160;&amp;#160;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;br /&gt;&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;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Basis of Presentation&lt;/u&gt; &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&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;#160;&amp;#160;Accordingly, certain information and footnotes required by generally accepted accounting principles in annual financial statements have been omitted or condensed.&amp;#160;&amp;#160;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;#160;&amp;#160;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 (&amp;#8220;US GAAP&amp;#8221;).&amp;#160;&amp;#160;The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July 31, 2016, and results of operations and cash flows for the interim periods represented.&amp;#160;&amp;#160;The results of operations for the nine and three months ended July 31, 2016 are not necessarily indicative of the results to be expected for the entire year. &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;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Revenue Recognition&lt;/u&gt;&amp;#160; &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&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;/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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Patent Licensing&lt;/u&gt; &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&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;#160;&amp;#160;These arrangements typically include some combination of the following:&amp;#160;(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;#160;&amp;#160;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&amp;#160;&amp;#160;Pursuant to the terms of these agreements, we had no further obligations. &amp;#160;&amp;#160;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;/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;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Intangible Assets&lt;/u&gt; &lt;/font&gt;&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;&lt;font style=&quot;font-size: 12pt;&quot;&gt;Our only identifiable intangible assets are patents and patent rights.&amp;#160;&amp;#160;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life.&amp;#160;&amp;#160;We did not capitalize any patent acquisition costs during the nine months ended July 31, 2016 and 2015. We recorded patent amortization expense of approximately $244,000 and $244,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $81,000 and $81,000 during the three months ended July 31, 2016 and 2015, respectively. &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;font-size: 12pt;&quot;&gt;&lt;font style=&quot;font-size: 12pt;&quot;&gt;&lt;font style=&quot;text-decoration: underline;&quot;&gt;Impairment&lt;/font&gt; &lt;/font&gt;&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;&lt;font style=&quot;font-size: 12pt;&quot;&gt;Long-lived assets, including intangible assets that are amortized, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates potential impairment by comparing the carrying amount of the assets with the estimated undiscounted future cash flows associated with them. Should the analysis indicate that an asset is not recoverable, the carrying value of the asset would be reduced to fair value and a corresponding charge would be recognized.&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;&lt;font style=&quot;font-size: 12pt;&quot;&gt;Intangible assets that are not amortized are reviewed for impairment at least annually. The Company evaluates potential impairment by comparing the carrying amount of the asset with its estimated fair value. Should the carrying amount exceed the estimated fair value, a corresponding charge would be recognized for the difference.&lt;/font&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock>
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  <us-gaap:CashCashEquivalentsAndShortTermInvestments unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">6769000</us-gaap:CashCashEquivalentsAndShortTermInvestments>
  <us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;2. &amp;#160;&lt;u&gt;STOCK BASED COMPENSATION&lt;/u&gt;&lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&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;/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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Stock Option Compensation Expense &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&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 $570,000 and $1,671,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $240,000 and $445,000 during the three months ended July 31, 2016 and 2015, respectively. &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;&lt;font style=&quot;FONT-SIZE:12pt&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 $668,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $-0- and $335,000 during the three months ended July 31, 2016 and 2015, respectively. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Stock Option Activity &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;During the nine months ended July 31, 2016 and 2015, we granted options to purchase 545,000 shares and 60,400 shares of common stock, respectively, to employees and directors at weighted average exercise prices of $2.92 and $2.91 per share, respectively, pursuant to the ITUS Corporation 2010 Share Incentive Plan (the &quot;2010 Share Plan&amp;#8221;).&amp;#160;&amp;#160;During the nine months ended July 31, 2016, stock options to purchase 9,080 shares of common stock were exercised with aggregate proceeds of approximately $23,000. During the nine months ended July 31, 2015, stock options to purchase 13,334 shares of common stock were exercised with aggregate proceeds of approximately $34,000.&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;u&gt;Stock&amp;#160;Option&amp;#160;Plans&lt;/u&gt; &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;As of July 31, 2016, we have two stock option plans:&amp;#160;&amp;#160;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;#160;&amp;#160;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;The 2003 Share Plan provided for the grant of nonqualified stock options, stock appreciation rights, stock awards, performance awards and stock units to key employees, directors and consultants.&amp;#160;&amp;#160;In accordance with the provisions of the 2003 Share Plan, the plan terminated with respect to the ability to grant future options on July 31, 2013. Information regarding the 2003 Share Plan for the nine months ended July 31, 2016 is as follows: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;429&quot;&gt; &lt;/td&gt;&lt;td width=&quot;86&quot;&gt; &lt;/td&gt;&lt;td width=&quot;11&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;104&quot;&gt; &lt;/td&gt;&lt;td width=&quot;11&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;86&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;113&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;Weighted&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;94&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Intrinsic &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;366,200 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;17.86 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercised&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;(9,080)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2.58 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;(120,320)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;17.89 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding and exercisable at&amp;#160; July 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;236,800 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;18.43 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;20,040 &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 July 31, 2016: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;219&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;161&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;161&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;131&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Number&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Average&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;$1.79 - $7.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;43,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1.94&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2.89 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;$13.50 - $17.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;59,600&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;.58&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;16.75 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;$18.75 - $23.00&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;94,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1.08&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;22.04 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;40,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1.06&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&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;PAGE-BREAK-BEFORE:always; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&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;#160;&amp;#160;As of July 31, 2016, the 2010 Share Plan had 443,955 shares available for future grants.&amp;#160;&amp;#160;Information regarding the 2010 Share Plan for the nine months ended July 31, 2016 is as follows: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;436&quot;&gt; &lt;/td&gt;&lt;td width=&quot;93&quot;&gt; &lt;/td&gt;&lt;td width=&quot;15&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;95&quot;&gt; &lt;/td&gt;&lt;td width=&quot;15&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;93&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;103&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;Weighted&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;100&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Intrinsic &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;526,272 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Granted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;545,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2.92 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding at July 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,071,272 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3.12 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;390,302&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Exercisable at July 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;582,646 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3.21 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;254,979&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&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;The following table summarizes information about stock options outstanding and exercisable under the 2010 Share Plan as of July 31, 2016: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;&lt;tr style=&quot;font-size: 0px;&quot;&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;96&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;96&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;303&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Outstanding &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;303&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Contractual Life &lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Contractual Life &lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$2.58 - $9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;1,071,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;6.84&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;3.12 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;582,646&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;6.39&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;3.21 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;margin: 0px; padding: 0px; text-align: right;&quot;&gt;&amp;#160;&lt;font style=&quot;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;FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;In addition to options granted under the 2003 Share Plan and the 2010 Share Plan, the Board of Directors approved the grant of stock options to purchase 1,780,000 shares.&amp;#160;&amp;#160;Information regarding stock options outstanding that were not granted under the 2003 Plan or the 2010 Plan for the nine months ended July 31, 2016 is as follows: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;417&quot;&gt; &lt;/td&gt;&lt;td width=&quot;88&quot;&gt; &lt;/td&gt;&lt;td width=&quot;13&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;95&quot;&gt; &lt;/td&gt;&lt;td width=&quot;13&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;103&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;#160;Weighted&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Average Exercise&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Price Per Share&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Aggregate&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Intrinsic &lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Value&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Shares&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, 2015&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,780,000 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2.70 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding and exercisable at July 31, 2016&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,780,000 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2.70 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;416,010&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 that were not granted under the 2003 Share Plan or the 2010 Share Plan as of July 31, 2016: &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;&lt;tr style=&quot;font-size: 0px;&quot;&gt;&lt;td width=&quot;219&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;161&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;161&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;131&quot;&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;and&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$2.58 - $5.56&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;6.01&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2.70 &lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;margin: 0px; padding: 0px; text-align: right;&quot;&gt;&amp;#160;&lt;font style=&quot;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;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Stock Awards &lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&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;#160;&amp;#160;During the nine months ended July 31, 2016 and 2015, we issued 9,795 shares and 11,600 shares, respectively, of common stock to consultants for services rendered.&amp;#160;&amp;#160;We recorded consulting expense for the nine months ended July 31, 2016 and 2015 of approximately $28,000 and $46,000, respectively, for the shares of common stock issued to consultants.&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1 contextRef="c25_From1Nov2015To31Jul2016_EmployeeStockOptionMember_MinimumMember">P1Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1 contextRef="c26_From1Nov2015To31Jul2016_EmployeeStockOptionMember_MaximumMember">P10Y</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c27_From1Nov2015To31Jul2016_EmployeeStockOptionMember_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">570000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c28_From1Nov2014To31Jul2015_EmployeeStockOptionMember_StockOptionsGrantedToEmployeesAndDirectorsMember" decimals="0">1671000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c8_From1May2016To31Jul2016" decimals="0">240000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c9_From1May2015To31Jul2015" decimals="0">445000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c29_From1Nov2015To31Jul2016_EmployeeStockOptionMember_ConsultantMember" decimals="0">0</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c30_From1Nov2014To31Jul2015_EmployeeStockOptionMember_ConsultantMember" decimals="0">668000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c31_From1May2016To31Jul2016_EmployeeStockOptionMember_ConsultantMember" decimals="0">0</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensation unitRef="usd" contextRef="c32_From1May2015To31Jul2015_EmployeeStockOptionMember_ConsultantMember" decimals="0">335000</us-gaap:ShareBasedCompensation>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c33_From1Nov2015To31Jul2016_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="INF">545000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c34_From1Nov2014To31Jul2015_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="INF">60400</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c33_From1Nov2015To31Jul2016_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="2">2.92</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c34_From1Nov2014To31Jul2015_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="2">2.91</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c33_From1Nov2015To31Jul2016_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="INF">9080</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ProceedsFromStockOptionsExercised unitRef="usd" contextRef="c33_From1Nov2015To31Jul2016_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="0">23000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c34_From1Nov2014To31Jul2015_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="INF">13334</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ProceedsFromStockOptionsExercised unitRef="usd" contextRef="c34_From1Nov2014To31Jul2015_EmployeeStockOptionMember_P2010SharePlanMember_CommonStockMember" decimals="0">34000</us-gaap:ProceedsFromStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant unitRef="shares" contextRef="c35_AsOf31Jul2016_EmployeeStockOptionMember_P2010SharePlanMember" decimals="INF">443955</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c36_From1Nov2015To31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c29_From1Nov2015To31Jul2016_EmployeeStockOptionMember_ConsultantMember" decimals="INF">9795</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <us-gaap:StockIssuedDuringPeriodSharesIssuedForServices unitRef="shares" contextRef="c30_From1Nov2014To31Jul2015_EmployeeStockOptionMember_ConsultantMember" decimals="INF">11600</us-gaap:StockIssuedDuringPeriodSharesIssuedForServices>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c29_From1Nov2015To31Jul2016_EmployeeStockOptionMember_ConsultantMember" decimals="0">28000</itus:ConsultationFeesRelatedToOptions>
  <itus:ConsultationFeesRelatedToOptions unitRef="usd" contextRef="c30_From1Nov2014To31Jul2015_EmployeeStockOptionMember_ConsultantMember" decimals="0">46000</itus:ConsultationFeesRelatedToOptions>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c37_From1Nov2015To31Jul2016_P2003SharePlanMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;429&quot;&gt; &lt;/td&gt;&lt;td width=&quot;86&quot;&gt; &lt;/td&gt;&lt;td width=&quot;11&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;104&quot;&gt; &lt;/td&gt;&lt;td width=&quot;11&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;86&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;113&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;Weighted&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;94&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Intrinsic &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;366,200 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;17.86 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercised&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;(9,080)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2.58 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Forfeited&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;(120,320)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;17.89 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;429&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding and exercisable at&amp;#160; July 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;236,800 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;104&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;18.43 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;11&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;86&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;20,040 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c38_AsOf31Oct2015_P2003SharePlanMember" decimals="INF">366200</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c38_AsOf31Oct2015_P2003SharePlanMember" decimals="2">17.86</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised unitRef="shares" contextRef="c37_From1Nov2015To31Jul2016_P2003SharePlanMember" decimals="INF">9080</us-gaap:StockIssuedDuringPeriodSharesStockOptionsExercised>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c37_From1Nov2015To31Jul2016_P2003SharePlanMember" decimals="2">2.58</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod unitRef="shares" contextRef="c37_From1Nov2015To31Jul2016_P2003SharePlanMember" decimals="INF">120320</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c37_From1Nov2015To31Jul2016_P2003SharePlanMember" decimals="2">17.89</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber unitRef="shares" contextRef="c39_AsOf31Jul2016_P2003SharePlanMember" decimals="INF">236800</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c39_AsOf31Jul2016_P2003SharePlanMember" decimals="2">18.43</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue unitRef="usd" contextRef="c39_AsOf31Jul2016_P2003SharePlanMember" decimals="0">20040</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c37_From1Nov2015To31Jul2016_P2003SharePlanMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;219&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;161&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;161&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;131&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Number&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;and&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Average&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;$1.79 - $7.75&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;43,200&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1.94&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2.89 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;$13.50 - $17.50&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;59,600&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;.58&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;16.75 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;$18.75 - $23.00&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;94,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1.08&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;22.04 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;219&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$29.25 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;40,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;161&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1.06&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;131&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&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="c40_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices179To775Member" decimals="INF">43200</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c41_From1Nov2015To31Jul2016_P2003SharePlanMember_RangeOfExercisePrices179To775Member">P1Y343D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c40_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices179To775Member" decimals="2">2.89</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c42_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices1350To1750Member" decimals="INF">59600</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c43_From1Nov2015To31Jul2016_P2003SharePlanMember_RangeOfExercisePrices1350To1750Member">P211D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c42_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices1350To1750Member" decimals="2">16.75</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c44_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices1875To2300Member" decimals="INF">94000</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c45_From1Nov2015To31Jul2016_P2003SharePlanMember_RangeOfExercisePrices1875To2300Member">P1Y29D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c44_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices1875To2300Member" decimals="2">22.04</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c46_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices2925Member" decimals="INF">40000</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c47_From1Nov2015To31Jul2016_P2003SharePlanMember_RangeOfExercisePrices2925Member">P1Y21D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c46_AsOf31Jul2016_P2003SharePlanMember_RangeOfExercisePrices2925Member" decimals="2">29.25</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c48_From1Nov2015To31Jul2016_P2010SharePlanMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;436&quot;&gt; &lt;/td&gt;&lt;td width=&quot;93&quot;&gt; &lt;/td&gt;&lt;td width=&quot;15&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;95&quot;&gt; &lt;/td&gt;&lt;td width=&quot;15&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;93&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;103&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;Weighted&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Average Exercise&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Price Per Share&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;100&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Aggregate&lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Intrinsic &lt;/font&gt;&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Value&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Shares&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding at October 31, 2015&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;526,272 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3.33 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Granted&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;545,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2.92 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Outstanding at July 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,071,272 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3.12 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;390,302&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;436&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Options Exercisable at July 31, 2016&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;582,646 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3.21 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;15&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;93&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;254,979&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_P2010SharePlanMember" decimals="INF">526272</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c49_AsOf31Oct2015_P2010SharePlanMember" decimals="2">3.33</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross unitRef="shares" contextRef="c48_From1Nov2015To31Jul2016_P2010SharePlanMember" decimals="INF">545000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross>
  <us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c48_From1Nov2015To31Jul2016_P2010SharePlanMember" decimals="2">2.92</us-gaap:ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c50_AsOf31Jul2016_P2010SharePlanMember" decimals="INF">1071272</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c50_AsOf31Jul2016_P2010SharePlanMember" decimals="2">3.12</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue unitRef="usd" contextRef="c50_AsOf31Jul2016_P2010SharePlanMember" decimals="0">390302</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber unitRef="shares" contextRef="c50_AsOf31Jul2016_P2010SharePlanMember" decimals="INF">582646</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c50_AsOf31Jul2016_P2010SharePlanMember" decimals="2">3.21</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice>
  <us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1 unitRef="usd" contextRef="c50_AsOf31Jul2016_P2010SharePlanMember" decimals="0">254979</us-gaap:SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c48_From1Nov2015To31Jul2016_P2010SharePlanMember">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;&lt;tr style=&quot;font-size: 0px;&quot;&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;96&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;96&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;15&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;95&quot;&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;303&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Outstanding &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; colspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;303&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Options Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Contractual Life &lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;5&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Contractual Life &lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$2.58 - $9.25&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;1,071,272&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;6.84&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;3.12 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;582,646&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;6.39&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;3.21 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;96&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;15&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;95&quot;&gt;&lt;p style=&quot;margin: 0px; padding: 0px; text-align: right;&quot;&gt;&amp;#160;&lt;font style=&quot;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="c51_AsOf31Jul2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">1071272</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2 contextRef="c52_From1Nov2015To31Jul2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y306D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1 unitRef="usdPershares" contextRef="c51_AsOf31Jul2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.12</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1>
  <us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions unitRef="shares" contextRef="c51_AsOf31Jul2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="INF">582646</us-gaap:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c52_From1Nov2015To31Jul2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member">P6Y142D</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1 unitRef="usdPershares" contextRef="c51_AsOf31Jul2016_P2010SharePlanMember_RangeOfExercisePrices258To925Member" decimals="2">3.21</us-gaap:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1>
  <us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock contextRef="c36_From1Nov2015To31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;417&quot;&gt; &lt;/td&gt;&lt;td width=&quot;88&quot;&gt; &lt;/td&gt;&lt;td width=&quot;13&quot;&gt; &lt;/td&gt;&lt;td width=&quot;8&quot;&gt; &lt;/td&gt;&lt;td width=&quot;95&quot;&gt; &lt;/td&gt;&lt;td width=&quot;13&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;103&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&amp;#160;Weighted&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Average Exercise&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Price Per Share&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Aggregate&lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Intrinsic &lt;/p&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Value&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Shares&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding at October 31, 2015&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,780,000 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2.70 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;417&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Options Outstanding and exercisable at July 31, 2016&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;1,780,000 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;8&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;95&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;2.70 &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;13&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;416,010&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber unitRef="shares" contextRef="c53_AsOf31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber>
  <us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c53_AsOf31Oct2015_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">2.70</us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber unitRef="shares" contextRef="c54_AsOf31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="INF">1780000</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c54_AsOf31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="2">2.70</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice>
  <itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue unitRef="usd" contextRef="c54_AsOf31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember" decimals="0">416010</itus:ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue>
  <us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock contextRef="c36_From1Nov2015To31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;&lt;tr style=&quot;font-size: 0px;&quot;&gt;&lt;td width=&quot;219&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;161&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;161&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;131&quot;&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Number&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Outstanding&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;and&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercisable&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;4&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Remaining&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Contractual Life&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;(in years)&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;3&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Weighted&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Average&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Price&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Range of&lt;/font&gt;&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;Exercise Prices&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$2.58 - $5.56&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;1,780,000&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;6.01&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;&lt;font style=&quot;font-size: 11pt;&quot;&gt;2.70 &lt;/font&gt;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;219&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;161&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;center&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 1pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;131&quot;&gt;&lt;p style=&quot;margin: 0px; padding: 0px; text-align: right;&quot;&gt;&amp;#160;&lt;font style=&quot;display: none;&quot;&gt;.&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable unitRef="shares" contextRef="c55_AsOf31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member" decimals="INF">1780000</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable>
  <itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2 contextRef="c56_From1Nov2015To31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member">P6Y3D</itus:SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2>
  <itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice unitRef="usdPershares" contextRef="c55_AsOf31Jul2016_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember_RangeOfExercisePrices258To556Member" decimals="2">2.70</itus:ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice>
  <us-gaap:FairValueDisclosuresTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;3. &lt;u&gt;FAIR VALUE MEASUREMENTS&lt;/u&gt;&lt;/font&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;US GAAP defines fair value and establishes a framework for measuring fair value. &amp;#160;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;#160;If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. &lt;/font&gt;&lt;/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;FONT-SIZE:12pt&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;/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;FONT-SIZE:12pt&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;/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;FONT-SIZE:12pt&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;#160;&amp;#160;&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;FONT-SIZE:12pt&quot;&gt;Level 3 &amp;#8211; Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management&amp;#8217;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities.&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;The following table presents the hierarchy for our financial assets measured at fair value on a recurring basis as of July 31, 2016: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;329&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Money market funds &amp;#8211;&amp;#160;&amp;#160; Cash equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,413,112 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,413,112 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Certificates of deposit - Short-term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,900,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,900,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,413,112 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,900,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3,313,122&lt;/font&gt; &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&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;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;337&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Money market funds &amp;#8211;&amp;#160; Cash equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Certificates of deposit - Short-term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&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;MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest as of July 31, 2016: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;337&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;4,071,425 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;4,071,425 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;MARGIN:0px; TEXT-INDENT:48px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;The following table presents the hierarchy for our financial liabilities measured at fair value on the transaction date and then adjusted for the subsequent accretion of interest as of October 31, 2015:&lt;/font&gt; &lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;337&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;3,688,187&amp;#160; &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;3,688,187&amp;#160; &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;br/&gt;&lt;p style=&quot;margin: 0px; text-indent: 54px;&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;font-size: 12pt;&quot;&gt;The following table sets forth the changes in the fair value of the Company&amp;#x2019;s Level 3 financial liabilities that are measured at fair value on a non-recurring basis: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;630&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent acquisition obligation&lt;/u&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2015&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;3,688,187 &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Accreted interest on patent obligation&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;383,238 &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Balance July 31, 2016&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;4,071,425 &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;&lt;font style=&quot;FONT-SIZE:12pt&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;#160;&amp;#160;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;#160;&amp;#160;Cash and cash equivalents are stated at carrying value which approximates fair value.&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:FairValueDisclosuresTextBlock>
  <us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;329&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;82&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;89&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Money market funds &amp;#8211;&amp;#160;&amp;#160; Cash equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,413,112 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,413,112 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Certificates of deposit - Short-term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,900,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,900,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;329&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,413,112 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;1,900,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;82&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;3,313,122&lt;/font&gt; &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;337&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Money market funds &amp;#8211;&amp;#160; Cash equivalents&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Certificates of deposit - Short-term investments&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total financial assets&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;467,967 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,400,000 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;2,867,967&lt;/font&gt; &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FairValueAssetsMeasuredOnRecurringBasisTextBlock>
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&lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 1&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 2&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Level 3&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;Patent acquisition obligation&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;-&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;4,071,425 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;$&lt;/font&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&lt;font style=&quot;FONT-SIZE:11pt&quot;&gt;4,071,425 &lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;337&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;7&quot;&gt; &lt;/td&gt;&lt;td width=&quot;80&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 1&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;88&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 2&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Level 3&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; colspan=&quot;2&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;center&quot;&gt;Total&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;337&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;Patent acquisition obligation&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;-&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;3,688,187&amp;#160; &lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;7&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;80&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;3,688,187&amp;#160; &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock>
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  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c81_AsOf31Jul2016_PatentAcquisitionObligationMember_FairValueInputsLevel3Member" decimals="0">4071425</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c82_AsOf31Jul2016_PatentAcquisitionObligationMember" decimals="0">4071425</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c83_AsOf31Oct2015_PatentAcquisitionObligationMember_FairValueInputsLevel1Member" xs:nil="true"/>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c84_AsOf31Oct2015_PatentAcquisitionObligationMember_FairValueInputsLevel2Member" xs:nil="true"/>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c85_AsOf31Oct2015_PatentAcquisitionObligationMember_FairValueInputsLevel3Member" decimals="0">3688187</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:LiabilitiesFairValueDisclosureRecurring unitRef="usd" contextRef="c86_AsOf31Oct2015_PatentAcquisitionObligationMember" decimals="0">3688187</us-gaap:LiabilitiesFairValueDisclosureRecurring>
  <us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;table style=&quot;FONT-SIZE:10pt; MARGIN-TOP:0px&quot; cellpadding=&quot;0&quot; cellspacing=&quot;0&quot; align=&quot;center&quot;&gt; &lt;tr style=&quot;FONT-SIZE:0px&quot;&gt; &lt;td width=&quot;630&quot;&gt; &lt;/td&gt;&lt;td width=&quot;14&quot;&gt; &lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&lt;/td&gt; &lt;/tr&gt;&lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;u&gt;Patent acquisition obligation&lt;/u&gt;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Balance October 31, 2015&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;3,688,187 &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Accreted interest on patent obligation&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;383,238 &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td width=&quot;630&quot; style=&quot;MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;Balance July 31, 2016&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;14&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;$&lt;/p&gt;&lt;/td&gt; &lt;td width=&quot;87&quot; style=&quot;BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff&quot; valign=&quot;bottom&quot;&gt; &lt;p style=&quot;FONT-SIZE:11pt; MARGIN:0px&quot; align=&quot;right&quot;&gt;4,071,425 &lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock>
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  <us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue unitRef="usd" contextRef="c0_AsOf31Jul2016" decimals="0">4071425</us-gaap:FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue>
  <invest:InvestmentTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;4. &lt;u&gt;INVESTMENTS&lt;/u&gt; &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;At July 31, 2016 and October 31, 2015, we had certificates of deposit of $1,900,000 and $2,400,000, respectively, which were classified as short-term investments and reported at fair value.&amp;#160;&amp;#160; &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;</invest:InvestmentTextBlock>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c0_AsOf31Jul2016" decimals="0">1900000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:CertificatesOfDepositAtCarryingValue unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">2400000</us-gaap:CertificatesOfDepositAtCarryingValue>
  <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;5. &lt;u&gt;ACCOUNTS PAYABLE AND ACCRUED EXPENSES&lt;/u&gt; &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Accounts payable and accrued expense consist of the following as of: &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;&lt;tr style=&quot;font-size: 0px;&quot;&gt;&lt;td width=&quot;513&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;July 31,&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;2016&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;October 31,&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;2015&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accounts payable&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;444,822&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;374,703&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Payroll and related expenses&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;49,932&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accrued other&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;36,870&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;6,062&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #ffffff;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;display: none;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;531,624&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;380,765&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;br/&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
  <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;table style=&quot;font-size: 10pt; margin-top: 0px;&quot; cellspacing=&quot;0&quot; cellpadding=&quot;0&quot; align=&quot;center&quot;&gt;&lt;tr style=&quot;font-size: 0px;&quot;&gt;&lt;td width=&quot;513&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;14&quot;&gt;&amp;#160;&lt;/td&gt;&lt;td width=&quot;87&quot;&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;July 31,&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;2016&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px;&quot; rowspan=&quot;2&quot; colspan=&quot;2&quot; valign=&quot;bottom&quot; width=&quot;102&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;October 31,&lt;/p&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;center&quot;&gt;2015&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accounts payable&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;444,822&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;374,703&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Payroll and related expenses&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;49,932&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;&amp;#160;-&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;Accrued other&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;36,870&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 1px solid; margin-top: 0px; background-color: #cceeff;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;6,062&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td style=&quot;margin-top: 0px; background-color: #ffffff;&quot; valign=&quot;bottom&quot; width=&quot;513&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;&lt;font style=&quot;display: none;&quot;&gt;Total&lt;/font&gt;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;531,624&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 12pt; margin: 0px;&quot;&gt;&amp;#160;&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;14&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot;&gt;$&lt;/p&gt;&lt;/td&gt;&lt;td style=&quot;border-bottom: #000000 3px double; margin-top: 0px;&quot; valign=&quot;bottom&quot; width=&quot;87&quot;&gt;&lt;p style=&quot;font-size: 11pt; margin: 0px;&quot; align=&quot;right&quot;&gt;380,765&lt;/p&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c0_AsOf31Jul2016" decimals="0">444822</us-gaap:AccountsPayableCurrent>
  <us-gaap:AccountsPayableCurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">374703</us-gaap:AccountsPayableCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Jul2016" decimals="0">49932</us-gaap:EmployeeRelatedLiabilitiesCurrent>
  <us-gaap:EmployeeRelatedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" xs:nil="true"/>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c0_AsOf31Jul2016" decimals="0">36870</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:OtherAccruedLiabilitiesCurrent unitRef="usd" contextRef="c1_AsOf31Oct2015" decimals="0">6062</us-gaap:OtherAccruedLiabilitiesCurrent>
  <us-gaap:EarningsPerShareTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;6. &lt;u&gt;NET LOSS PER SHARE OF COMMON STOCK&lt;/u&gt;&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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Basic net income (loss) per common share (&amp;#8220;Basic EPS&amp;#8221;) is computed by dividing net income (loss) by the weighted average number of common shares outstanding.&amp;#160;&amp;#160;Diluted net income (loss) per common share (&amp;#8220;Diluted EPS&amp;#8221;) 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;#160;&amp;#160; &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;Diluted EPS for all periods presented is the same as Basic EPS, as the inclusion of the effect of common share equivalents then outstanding would be anti-dilutive.&amp;#160;&amp;#160;For this reason, excluded from the calculation of Diluted EPS for the nine and three months ended July 31, 2016 and 2015, were stock options to purchase 3,088,072 and 2,724,072 shares, respectively, warrants to purchase 707,387 and 1,028,932 shares, respectively and preferred stock convertible into 739,958 shares. &lt;/font&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:EarningsPerShareTextBlock>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c87_From1Nov2015To31Jul2016_EmployeeStockOptionMember" decimals="INF">3088072</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c88_From1May2016To31Jul2016_EmployeeStockOptionMember" decimals="INF">3088072</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c89_From1Nov2014To31Jul2015_EmployeeStockOptionMember" decimals="INF">2724072</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c90_From1May2015To31Jul2015_EmployeeStockOptionMember" decimals="INF">2724072</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c91_From1Nov2015To31Jul2016_WarrantMember" decimals="INF">707387</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c92_From1May2016To31Jul2016_WarrantMember" decimals="INF">707387</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c93_From1Nov2014To31Jul2015_WarrantMember" decimals="INF">1028932</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c94_From1May2015To31Jul2015_WarrantMember" decimals="INF">1028932</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c95_From1Nov2015To31Jul2016_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c96_From1May2016To31Jul2016_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c97_From1Nov2014To31Jul2015_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount unitRef="shares" contextRef="c98_From1May2015To31Jul2015_ConvertiblePreferredStockMember" decimals="INF">739958</us-gaap:AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount>
  <us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock contextRef="c6_From1Nov2015To31Jul2016">&lt;p style=&quot;FONT-SIZE:12pt; MARGIN:0px&quot; align=&quot;justify&quot;&gt;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;7.&amp;#160; &lt;u&gt;EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS&lt;/u&gt; &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In May 2014, the Financial Accounting Standards Board (&quot;FASB&quot;) issued Accounting Standards Update 2014-09 (&amp;#8220;ASU 2014-09&amp;#8221;), Revenue from Contracts with Customers.&amp;#160;&amp;#160;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;#160;This standard update is effective for&amp;#160;interim and annual&amp;#160;reporting periods beginning after December 15,&amp;#160;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &amp;#160;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;#160;and related disclosures. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In June 2014, the FASB issued Accounting Standards Update 2014-12 (&amp;#8220;ASU 2014-12&amp;#8221;), Compensation &amp;#8211; Stock Compensation.&amp;#160;&amp;#160;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;#160;and related disclosures. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In August 2014, the FASB issued Accounting Standards Update 2014-15 (&amp;#8220;ASU 2014-15&amp;#8221;).&amp;#160;&amp;#160;This amendment requires management to assess an entity&amp;#8217;s ability to continue as a going concern every reporting period including interim periods, and to provide related footnote disclosure in certain circumstances. Adoption of this standard is required for annual periods beginning after December 15, 2016 and are to be applied retrospectively or the cumulative effect as of the date of adoption. We do not expect this update to have a significant impact on our consolidated financial statements. &lt;/font&gt;&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;FONT-SIZE:12pt&quot;&gt;In April 2015, the FASB issued Accounting Standards Update 2015-03 (&amp;#8220;ASU 2015-03&amp;#8221;) 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. The adoption of this amendment did not have an impact on our financial position or results of operations. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In November 2015, the FASB issued Accounting Standards Update 2015-17 (&amp;#8220;ASU 2015-17&amp;#8221;) 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;#160;&amp;#160;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;#160;and related disclosures. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In February 2016, the FASB issued Accounting Standards Update 2016-02 (&amp;#8220;ASU 2016-02&amp;#8221;) which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. We are currently evaluating the impact ASU 2016-02 will have on our consolidated financial statements&amp;#160;and related disclosures. &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;&lt;font style=&quot;FONT-SIZE:12pt&quot;&gt;In March 2016, the FASB issued Accounting Standards Update 2016-09 (&amp;#8220;ASU 2016-09&amp;#8221;) that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also allows an employer to repurchase more of an employee&amp;#8217;s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election for forfeitures as they occur. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. We are currently evaluating the impact ASU 2016-09 will have on our consolidated financial statements&amp;#160;and related disclosures. &lt;/font&gt;&lt;br /&gt;&lt;/p&gt;&lt;br/&gt;</us-gaap:NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock>
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        <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/INCOMETAXESDetails" id="itus_r_INCOMETAXESDetails">
        <link:definition>034 - 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>035 - 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/2016-01-31" schemaLocation="http://xbrl.fasb.org/us-gaap/2016/elts/us-types-2016-01-31.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="ChangeInOperatingAssetsAndLiabilitiesAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract"/>
  <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="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense"/>
  <xs:element name="GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants"/>
  <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="PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" type="xbrli:monetaryItemType" abstract="false" xbrli:periodType="duration" xbrli:balance="credit" nillable="true" substitutionGroup="xbrli:item" id="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant"/>
  <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="P2003SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_P2003SharePlanMember"/>
  <xs:element name="P2010SharePlanMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_P2010SharePlanMember"/>
  <xs:element name="PatentAcquisitionObligationMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_PatentAcquisitionObligationMember"/>
  <xs:element name="RangeOfExercisePrices1350To1750Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices1350To1750Member"/>
  <xs:element name="RangeOfExercisePrices179To775Member" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_RangeOfExercisePrices179To775Member"/>
  <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="StockRepurchasedOtherThanOpenMarketTransactionMember" type="nonnum:domainItemType" abstract="false" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_StockRepurchasedOtherThanOpenMarketTransactionMember"/>
  <xs:element name="DocumentAndEntityInformationAbstract" type="xbrli:stringItemType" abstract="true" xbrli:periodType="duration" nillable="true" substitutionGroup="xbrli:item" id="itus_DocumentAndEntityInformationAbstract"/>
</xs:schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>8
<FILENAME>itus-20160731_cal.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION CALCULATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Fri Aug 19 14:02:48 EDT 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="itus-20160731.xsd#itus_r_ConsolidatedBalanceSheet" roleURI="http://www.copytele.com/role/ConsolidatedBalanceSheet"/>
  <roleRef xlink:type="simple" xlink:href="itus-20160731.xsd#itus_r_ConsolidatedIncomeStatement" roleURI="http://www.copytele.com/role/ConsolidatedIncomeStatement"/>
  <roleRef xlink:type="simple" xlink:href="itus-20160731.xsd#itus_r_ConsolidatedCashFlow" roleURI="http://www.copytele.com/role/ConsolidatedCashFlow"/>
  <roleRef xlink:type="simple" xlink:href="itus-20160731.xsd#itus_r_AccountspayableandaccruedexpenseTable" roleURI="http://www.copytele.com/role/AccountspayableandaccruedexpenseTable"/>
  <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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsCurrent"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PrepaidExpenseAndOtherAssetsCurrent"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_PrepaidExpenseAndOtherAssetsCurrent" order="3" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Assets" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_Assets"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_AssetsCurrent" order="1" weight="1"/>
    <loc xlink:type="locator" xlink:label="itus_FiniteLivedPatentsNet" xlink:href="itus-20160731.xsd#itus_FiniteLivedPatentsNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="itus_FiniteLivedPatentsNet" order="2" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <calculationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_PropertyPlantAndEquipmentNet" order="3" weight="1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesCurrent"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
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<DOCUMENT>
<TYPE>EX-101.DEF
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<FILENAME>itus-20160731_def.xml
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    <loc xlink:type="locator" xlink:label="us-gaap_EmployeeStockOptionMember" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EmployeeStockOptionMember"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_WarrantMember" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WarrantMember"/>
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  <definitionLink xlink:type="extended" xlink:role="http://www.copytele.com/role/DocumentAndEntityInformation">
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    <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"/>
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    <loc xlink:type="locator" xlink:label="dei_EntityFilerCategory" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityFilerCategory"/>
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    <loc xlink:type="locator" xlink:label="dei_EntityWellKnownSeasonedIssuer" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityWellKnownSeasonedIssuer"/>
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</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>10
<FILENAME>itus-20160731_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 Aug 19 14:02:48 EDT 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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-20160731.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 $883,716 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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 $38,532 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable and accrued expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:href="itus-20160731.xsd#itus_RoyaltiesAndContingentLegalFeesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_RoyaltiesAndContingentLegalFeesPayable_lbl" xml:lang="en-US">Royalties and contingent legal fees payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_RoyaltiesAndContingentLegalFeesPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrent" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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-20160731.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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; 8,747,753 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Common stock, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdditionalPaidInCapital" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AdditionalPaidInCapital"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapital_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapital" xlink:to="us-gaap_AdditionalPaidInCapital_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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-20160731.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 patent 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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-20160731.xsd#itus_LitigationAndLicensingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_LitigationAndLicensingExpenses_lbl" xml:lang="en-US">Litigation and licensing expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_LitigationAndLicensingExpenses" xlink:to="itus_LitigationAndLicensingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AmortizationOfIntangibleAssets" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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 $570,190 and $2,338,299, 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_InterestExpense"/>
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    <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>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxExpenseBenefit" xlink:to="us-gaap_IncomeTaxExpenseBenefit_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl0" xml:lang="en-US">Net loss</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasicAndDiluted_lbl" xml:lang="en-US">Basic and diluted (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasicAndDiluted" xlink:to="us-gaap_EarningsPerShareBasicAndDiluted_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl" xml:lang="en-US">Common stock issued upon exercise of stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl" xml:lang="en-US">Common stock issued upon exercise of stock options (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl0" xml:lang="en-US">Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueIssuedForServices" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueIssuedForServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodSharesIssuedForServices"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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/label" 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-20160731.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-20160731.xsd#itus_StockIssuedDuringPeriodSharesPatentLicense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" 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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US">Retained Earnings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfCashFlowsAbstract_lbl" xml:lang="en-US">Statement of Cash Flows [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfCashFlowsAbstract" xlink:to="us-gaap_StatementOfCashFlowsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockOptionPlanExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl" xml:lang="en-US">Common stock issued to consultants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims" xlink:to="us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:href="itus-20160731.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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTerseLabel" xlink:label="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl0" xml:lang="en-US">Accreted interest on patent obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense" xlink:to="itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockIssuedDuringPeriodValueAcquisitions"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl" xml:lang="en-US">Common stock issued to acquire patent license</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_TreasuryStockSharesAcquired" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_TreasuryStockSharesAcquired"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TreasuryStockSharesAcquired" xlink:to="us-gaap_TreasuryStockSharesAcquired_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_OtherNoncashIncomeExpense" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OtherNoncashIncomeExpense"/>
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    <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"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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-20160731.xsd#itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl" xml:lang="en-US">Royalties and contingent legal fees payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0"/>
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    <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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromSaleOfShortTermInvestments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl" xml:lang="en-US">Proceeds from maturities and sales of short-term investments in certificates of deposit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfShortTermInvestments" xlink:to="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl0" xml:lang="en-US">Proceeds from Sale of Short-term Investments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromSaleOfShortTermInvestments" xlink:to="us-gaap_ProceedsFromSaleOfShortTermInvestments_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash provided by investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromStockOptionsExercised" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ProceedsFromStockOptionsExercised"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl" xml:lang="en-US">Proceeds from exercise of employee stock options</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromStockOptionsExercised_lbl0" xml:lang="en-US">Proceeds from Stock Options Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromStockOptionsExercised" xlink:to="us-gaap_ProceedsFromStockOptionsExercised_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:href="itus-20160731.xsd#itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl" xml:lang="en-US">Payments to acquire 32,000 share common stock and cancellation of warrants to purchase 16,000 shares common stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant" xlink:to="itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareRepurchaseProgramAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareRepurchaseProgramAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramAxis_lbl" xml:lang="en-US">Share Repurchase Program [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareRepurchaseProgramAxis" xlink:to="us-gaap_ShareRepurchaseProgramAxis_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_StockRepurchasedOtherThanOpenMarketTransactionMember_lbl" xml:lang="en-US">Stock Repurchased Other Than Open Market Transaction [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockRepurchasedOtherThanOpenMarketTransactionMember" xlink:to="itus_StockRepurchasedOtherThanOpenMarketTransactionMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash provided by (used in) financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl" xml:lang="en-US">Net (decrease) increase in cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PlanNameAxis" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_PlanNameAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameAxis_lbl" xml:lang="en-US">Plan Name [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PlanNameAxis" xlink:to="us-gaap_PlanNameAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_P2003SharePlanMember" xlink:href="itus-20160731.xsd#itus_P2003SharePlanMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_P2003SharePlanMember_lbl" xml:lang="en-US">2003 Share Plan [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_P2003SharePlanMember" xlink:to="itus_P2003SharePlanMember_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_InformationRegardingThe2003SharePlanAbstract" xlink:href="itus-20160731.xsd#itus_InformationRegardingThe2003SharePlanAbstract"/>
    <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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_lbl" xml:lang="en-US">Options Outstanding at October 31, 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_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 July 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/2016/elts/us-gaap-2016-01-31.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 July 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="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Exercised</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl" xml:lang="en-US">Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Forfeited</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber" xlink:href="itus-20160731.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber_lbl" xml:lang="en-US">Options Outstanding and exercisable at July 31, 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 July 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice" xlink:href="itus-20160731.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Outstanding and exercisable at July 31, 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 July 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:href="itus-20160731.xsd#itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl" xml:lang="en-US">Options Outstanding and exercisable at July 31, 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 July 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_StockOptionsOutstandingAndExercisableUnder2003SharePlanAbstract" xlink:href="itus-20160731.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/2016/elts/us-gaap-2016-01-31.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_RangeOfExercisePrices179To775Member" xlink:href="itus-20160731.xsd#itus_RangeOfExercisePrices179To775Member"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="itus_RangeOfExercisePrices179To775Member_lbl" xml:lang="en-US">Range Of Exercise Prices $1.79 To $7.75 [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_RangeOfExercisePrices179To775Member" xlink:to="itus_RangeOfExercisePrices179To775Member_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable" xlink:href="itus-20160731.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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptionsAndExercisable_lbl0" 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2" xlink:href="itus-20160731.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"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="itus_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl0" 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_lbl0"/>
    <loc xlink:type="locator" xlink:label="itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice" xlink:href="itus-20160731.xsd#itus_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingAndExercisableOptionsWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" 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/terseLabel" 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-20160731.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-20160731.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-20160731.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-20160731.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-20160731.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"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl" xml:lang="en-US">Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl" xml:lang="en-US">Granted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl0" xml:lang="en-US">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice" xlink:to="us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl" xml:lang="en-US">Options Outstanding at July 31, 2016</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl" xml:lang="en-US">Options Exercisable at July 31, 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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_lbl" xml:lang="en-US">Options Exercisable at July 31, 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/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_lbl" xml:lang="en-US">Options Exercisable at July 31, 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-20160731.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-20160731.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"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherAccruedLiabilitiesCurrent" xlink:to="us-gaap_OtherAccruedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">Earnings Per Share [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_lbl0" xml:lang="en-US">Net loss per common share:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl" xml:lang="en-US">New Accounting Pronouncements and Changes in Accounting Principles [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract" xlink:to="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US">Income Tax Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments and Contingencies Disclosure [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">Current assets:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND SHAREHOLDERS&apos; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">Current liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">Shareholders&#8217; equity:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenuesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_RevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">Revenue:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingCostsAndExpensesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OperatingCostsAndExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingCostsAndExpensesAbstract_lbl" xml:lang="en-US">Operating costs and expenses:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingCostsAndExpensesAbstract" xlink:to="us-gaap_OperatingCostsAndExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl" xml:lang="en-US">Weighted average common shares outstanding:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Reconciliation of net loss to 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_NetCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:href="itus-20160731.xsd#itus_ChangeInOperatingAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Change in operating assets and liabilities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract" xlink:to="itus_ChangeInOperatingAssetsAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl" xml:lang="en-US">Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock" xlink:to="us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl" xml:lang="en-US">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock" xlink:to="us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_lbl" xml:lang="en-US">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock" xlink:to="us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueDisclosuresTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueDisclosuresTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueDisclosuresTextBlock_lbl" xml:lang="en-US">Fair Value Disclosures [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueDisclosuresTextBlock" xlink:to="us-gaap_FairValueDisclosuresTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl" xml:lang="en-US">Fair Value, Assets Measured on Recurring Basis [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock" xlink:to="us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_lbl" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_lbl" xml:lang="en-US">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock" xlink:to="us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligationAbstract" xlink:href="itus-20160731.xsd#itus_PatentAcquisitionObligationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_PatentAcquisitionObligationAbstract_lbl" xml:lang="en-US">Patent acquisition obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_PatentAcquisitionObligationAbstract" xlink:to="itus_PatentAcquisitionObligationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="invest_InvestmentTextBlock" xlink:href="http://xbrl.sec.gov/invest/2013/invest-2013-01-31.xsd#invest_InvestmentTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="invest_InvestmentTextBlock_lbl" xml:lang="en-US">Investment [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="invest_InvestmentTextBlock" xlink:to="invest_InvestmentTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_EarningsPerShareTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareTextBlock_lbl" xml:lang="en-US">Earnings Per Share [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareTextBlock" xlink:to="us-gaap_EarningsPerShareTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock_lbl" xml:lang="en-US">New Accounting Pronouncements and Changes in Accounting Principles [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US">Income Tax Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">Commitments and Contingencies Disclosure [Text Block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensation_lbl" xml:lang="en-US">Share-based Compensation</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_CertificatesOfDepositAtCarryingValue" xlink:href="http://xbrl.fasb.org/us-gaap/2016/elts/us-gaap-2016-01-31.xsd#us-gaap_CertificatesOfDepositAtCarryingValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CertificatesOfDepositAtCarryingValue_lbl" xml:lang="en-US">Certificates of Deposit, at Carrying Value</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LitigationSettlementAmount_lbl" xml:lang="en-US">Litigation Settlement, Amount</label>
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    <loc xlink:type="locator" xlink:label="itus_PatentAcquisitionObligationsDiscountedPresentValue" xlink:href="itus-20160731.xsd#itus_PatentAcquisitionObligationsDiscountedPresentValue"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_InterestExpensePatentAcquisitionObligations" xlink:to="itus_InterestExpensePatentAcquisitionObligations_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareRepurchaseProgramDomain_lbl" xml:lang="en-US">Share Repurchase Program [Domain]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PlanNameDomain_lbl" xml:lang="en-US">Plan Name [Domain]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_STOCKBASEDCOMPENSATIONTablesLineItems" xlink:to="itus_STOCKBASEDCOMPENSATIONTablesLineItems_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanTable" xlink:to="itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingthe2003SharePlanTable_lbl"/>
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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>
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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/label" xlink:label="itus_DocumentAndEntityInformationAbstract_lbl" xml:lang="en-US">Document and Entity Information [Abstract]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue" xlink:to="itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue_lbl2"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants" xlink:to="itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl1" xml:lang="en-US">IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable" xlink:to="itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl1" xml:lang="en-US">StockIssuedDuringPeriodSharesPatentLicense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="itus_StockIssuedDuringPeriodSharesPatentLicense" xlink:to="itus_StockIssuedDuringPeriodSharesPatentLicense_lbl1"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue_lbl1" xml:lang="en-US">Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value</label>
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    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpense_lbl0" xml:lang="en-US">Interest Expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
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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_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Remaining Contractual Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentFiscalYearFocus" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_DocumentFiscalYearFocus"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl0" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl0" xml:lang="en-US">Stock Issued During Period, Value, Acquisitions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueAcquisitions" xlink:to="us-gaap_StockIssuedDuringPeriodValueAcquisitions_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Outstanding Options, Weighted Average Exercise Price</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1" xlink:to="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCommonStockSharesOutstanding" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityCommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl0" xml:lang="en-US">Class of Warrant or Right, Number of Securities Called by Warrants or Rights</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights" xlink:to="us-gaap_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNet_lbl0" xml:lang="en-US">Revenue, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNet" xlink:to="us-gaap_SalesRevenueNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl0" xml:lang="en-US">Liabilities and Equity</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0" xml:lang="en-US">Cash and Cash Equivalents, Period Increase (Decrease)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease" xlink:to="us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrent_lbl0" xml:lang="en-US">Liabilities, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl0" xml:lang="en-US">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber" xlink:to="us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharesIssued_lbl1" xml:lang="en-US">Shares, Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SharesIssued" xlink:to="us-gaap_SharesIssued_lbl1"/>
    <loc xlink:type="locator" xlink:label="dei_EntityVoluntaryFilers" xlink:href="http://xbrl.sec.gov/dei/2014/dei-2014-01-31.xsd#dei_EntityVoluntaryFilers"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl0" xml:lang="en-US">Increase (Decrease) in Prepaid Expense and Other Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2_lbl0" xml:lang="en-US">Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Exercisable Options, Weighted Average Remaining Contractual Term</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
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</linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>11
<FILENAME>itus-20160731_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by iC(tm) - CompSci Interactive Converter - http://www.compsciresources.com -->
<!-- Created: Fri Aug 19 14:02:48 EDT 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-20160731.xsd#itus_r_COMMITMENTANDCONTINGENCES" roleURI="http://www.copytele.com/role/COMMITMENTANDCONTINGENCES"/>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6784305440">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information - shares<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Aug. 15, 2016</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_DocumentAndEntityInformationAbstract', window );"><strong>Document and Entity Information [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">ITUS CORPORATION<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">10-Q<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CurrentFiscalYearEndDate', window );">Current Fiscal Year End Date</a></td>
<td class="text">--10-31<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCommonStockSharesOutstanding', window );">Entity Common Stock, Shares Outstanding</a></td>
<td class="text">&#160;<span></span>
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<td class="nump">8,747,753<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000715446<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCurrentReportingStatus', window );">Entity Current Reporting Status</a></td>
<td class="text">Yes<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityVoluntaryFilers', window );">Entity Voluntary Filers</a></td>
<td class="text">No<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFilerCategory', window );">Entity Filer Category</a></td>
<td class="text">Smaller Reporting Company<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityWellKnownSeasonedIssuer', window );">Entity Well-known Seasoned Issuer</a></td>
<td class="text">No<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Jul. 31,  2016<span></span>
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<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalYearFocus', window );">Document Fiscal Year Focus</a></td>
<td class="text">2016<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentFiscalPeriodFocus', window );">Document Fiscal Period Focus</a></td>
<td class="text">Q3<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>If the value is true, then the document is an amendment to previously-filed/accepted document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>End date of current fiscal year in the format --MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentFiscalPeriodFocus</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<td><strong> Data Type:</strong></td>
<td>dei:fiscalPeriodItemType</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>
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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>
<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>The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented.  If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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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 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>
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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>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>
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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>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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12b<br> -Subsection 1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</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>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>13
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6784855952">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 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">$ 2,049,245<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">1,900,000<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">56,428<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">4,005,673<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 $883,716 and $639,744, respectively</a></td>
<td class="nump">2,152,395<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 $38,532 and $13,617 respectively</a></td>
<td class="nump">163,191<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">6,321,259<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">531,624<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="text"> <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">531,624<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">4,071,425<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">4,603,049<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; 8,747,753 and 8,724,878 shares issued and outstanding, respectively</a></td>
<td class="nump">87,478<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_AdditionalPaidInCapital', window );">Additional paid-in capital</a></td>
<td class="nump">151,734,255<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">(150,117,523)<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">1,718,210<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">6,321,259<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;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_FiniteLivedPatentsNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Net carrying amount after accumulated amortization as of the balance sheet date.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_FiniteLivedPatentsNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_PatentAcquisitionObligation">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Obligation related to patent acquisition.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_PatentAcquisitionObligation</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_RoyaltiesAndContingentLegalFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Royalties and contingent legal fees payable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_RoyaltiesAndContingentLegalFeesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableAndAccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying values as of the balance sheet date of obligations incurred through that date and due within one year (or the operating cycle, if longer), including liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received, taxes, interest, rent and utilities, accrued salaries and bonuses, payroll taxes and fringe benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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_AdditionalPaidInCapital">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Excess of issue price over par or stated value of the entity's capital stock and amounts received from other transactions involving the entity's stock or stockholders. Includes adjustments to additional paid in capital. Some examples of such adjustments include recording the issuance of debt with a beneficial conversion feature and certain tax consequences of equity instruments awarded to employees. Use this element for the aggregate amount of additional paid-in capital associated with common and preferred stock. For additional paid-in capital associated with only common stock, use the element additional paid in capital, common stock. For additional paid-in capital associated with only preferred stock, use the element additional paid in capital, preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapital</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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)(12))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(11))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_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=66902209&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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19-26)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Liabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesAndStockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(23))<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(a)(25))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<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(32))<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_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 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(8))<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> -Subparagraph (SX 210.5-02(7))<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 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_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 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><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 944<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<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 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<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_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>Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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 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)(1)(g))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879938&amp;loc=d3e572229-122910<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(5))<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 942<br> -SubTopic 210<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(6))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br><br>Reference 5: 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(4))<br> -URI http://asc.fasb.org/extlink&amp;oid=6876686&amp;loc=d3e534808-122878<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_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 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<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 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 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(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_PreferredStockMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementClassOfStockAxis=us-gaap_SeriesAPreferredStockMember</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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<td><strong> Balance Type:</strong></td>
<td></td>
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<html>
<head>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6789928912">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization', window );">Patents, accumulated amortization (in Dollars)</a></td>
<td class="nump">$ 883,716<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">$ 38,532<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_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_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="re">
<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="ro">
<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">8,747,753<span></span>
</td>
<td class="nump">8,724,878<span></span>
</td>
</tr>
<tr class="re">
<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">8,747,753<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="re">
<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">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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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 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 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_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=66006027&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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6784834800">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>Revenue:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_RevenueFromPatentAssertionActivities', window );">Revenue from patent licensing activities</a></td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="nump">$ 95,000<span></span>
</td>
<td class="nump">$ 100,000<span></span>
</td>
<td class="nump">$ 255,000<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="text"> <span></span>
</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="nump">100,000<span></span>
</td>
<td class="nump">95,000<span></span>
</td>
<td class="nump">100,000<span></span>
</td>
<td class="nump">9,255,000<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>
<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="nump">61,720<span></span>
</td>
<td class="nump">48,917<span></span>
</td>
<td class="nump">61,720<span></span>
</td>
<td class="nump">152,861<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 expenses</a></td>
<td class="nump">8,551<span></span>
</td>
<td class="nump">32,636<span></span>
</td>
<td class="nump">83,713<span></span>
</td>
<td class="nump">3,472,908<span></span>
</td>
</tr>
<tr class="ro">
<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>
<td class="nump">243,972<span></span>
</td>
<td class="nump">243,972<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Marketing, general and administrative expenses (including non-cash stock option compensation expenses of $570,190 and $2,338,299, respectively)</a></td>
<td class="nump">923,289<span></span>
</td>
<td class="nump">1,422,844<span></span>
</td>
<td class="nump">3,306,305<span></span>
</td>
<td class="nump">5,152,489<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">1,074,884<span></span>
</td>
<td class="nump">1,585,721<span></span>
</td>
<td class="nump">3,695,710<span></span>
</td>
<td class="nump">9,022,230<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">(974,884)<span></span>
</td>
<td class="num">(1,490,721)<span></span>
</td>
<td class="num">(3,595,710)<span></span>
</td>
<td class="nump">232,770<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpense', window );">Interest expense</a></td>
<td class="num">(132,357)<span></span>
</td>
<td class="num">(115,981)<span></span>
</td>
<td class="num">(383,238)<span></span>
</td>
<td class="num">(333,779)<span></span>
</td>
</tr>
<tr class="re">
<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">3,466<span></span>
</td>
<td class="nump">4,523<span></span>
</td>
<td class="nump">10,190<span></span>
</td>
<td class="nump">14,379<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 before income taxes</a></td>
<td class="num">(1,103,775)<span></span>
</td>
<td class="num">(1,602,179)<span></span>
</td>
<td class="num">(3,968,758)<span></span>
</td>
<td class="num">(86,630)<span></span>
</td>
</tr>
<tr class="re">
<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>
<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</a></td>
<td class="num">$ (1,103,775)<span></span>
</td>
<td class="num">$ (1,602,179)<span></span>
</td>
<td class="num">$ (3,968,758)<span></span>
</td>
<td class="num">$ (86,630)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>Net loss per common share:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasicAndDiluted', window );">Basic and diluted (in Dollars per share)</a></td>
<td class="num">$ (0.13)<span></span>
</td>
<td class="num">$ (0.18)<span></span>
</td>
<td class="num">$ (0.45)<span></span>
</td>
<td class="num">$ (0.01)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract', window );"><strong>Weighted average common shares outstanding:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted', window );">Basic and diluted (in Shares)</a></td>
<td class="nump">8,745,423<span></span>
</td>
<td class="nump">8,762,540<span></span>
</td>
<td class="nump">8,736,167<span></span>
</td>
<td class="nump">8,773,279<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=66902209&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=66006027&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>
<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_CostsAndExpenses">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total costs of sales and operating expenses for the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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=63488584&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>
<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_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
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<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements.  Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period.  Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=65882285&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 835<br> -SubTopic 30<br> -Section 45<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=64930785&amp;loc=d3e28555-108399<br><br>Reference 3: 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=63488584&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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_NetIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingCostsAndExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingCostsAndExpensesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue, fees and commissions earned from transactions between (a) a parent company and its subsidiaries; (b) subsidiaries of a common parent; (c) an entity and trusts for the benefit of employees, for example, but not limited to, pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; (d) an entity and its principal, owners, management, or members of their immediate families; and (e) affiliates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1(e))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Related Parties<br> -URI http://asc.fasb.org/extlink&amp;oid=16382449<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 946<br> -SubTopic 225<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07.1(c))<br> -URI http://asc.fasb.org/extlink&amp;oid=6488393&amp;loc=d3e606610-122999<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenuesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RoyaltyExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense related to royalty payments under a contractual arrangement such as payment for mineral and drilling rights and use of technology or intellectual property.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.3)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RoyaltyExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SalesRevenueNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&amp;loc=d3e20235-122688<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SalesRevenueNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 225<br> -SubTopic 10<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03.4)<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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=68048583&amp;loc=d3e3636-108311<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6612588368">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (Parentheticals) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllocatedShareBasedCompensationExpense', window );">Non-cash Stock Option Compensation Expenses</a></td>
<td class="nump">$ 240,441<span></span>
</td>
<td class="nump">$ 780,591<span></span>
</td>
<td class="nump">$ 570,190<span></span>
</td>
<td class="nump">$ 2,338,299<span></span>
</td>
</tr>
</table>
<div style="display: none;"><table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AllocatedShareBasedCompensationExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 14.F)<br> -URI http://asc.fasb.org/extlink&amp;oid=27013229&amp;loc=d3e301413-122809<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5047-113901<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (h)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AllocatedShareBasedCompensationExpense</td>
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<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<head>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6787195264">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS` EQUITY - 9 months ended Jul. 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">570,190<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">570,190<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised', window );">Common stock issued upon exercise of stock options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 91<span></span>
</td>
<td class="nump">23,290<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,381<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Common stock issued upon exercise of stock options (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,080<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices', window );">Common stock issued to consultants</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 98<span></span>
</td>
<td class="nump">27,898<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,996<span></span>
</td>
</tr>
<tr class="re">
<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">9,795<span></span>
</td>
<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">(3,968,758)<span></span>
</td>
<td class="num">(3,968,758)<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Jul. 31, 2016</a></td>
<td class="nump">$ 14,000<span></span>
</td>
<td class="nump">$ 87,478<span></span>
</td>
<td class="nump">$ 151,734,255<span></span>
</td>
<td class="num">$ (150,117,523)<span></span>
</td>
<td class="nump">$ 1,718,210<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharesIssued', window );">Balance (in Shares) at Jul. 31, 2016</a></td>
<td class="nump">140<span></span>
</td>
<td class="nump">8,747,753<span></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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_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_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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 FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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 4: 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 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 2<br> -Subparagraph (c)(1)(iv)(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_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued in lieu of cash for services contributed to the entity. Value of the stock issued includes, but is not limited to, services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued as a result of the exercise of stock options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<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 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 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(31))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><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>
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<head>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6776290160">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Reconciliation of net loss to net cash (used in) provided by operating activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net loss income</a></td>
<td class="num">$ (3,968,758)<span></span>
</td>
<td class="num">$ (86,630)<span></span>
</td>
</tr>
<tr class="re">
<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">570,190<span></span>
</td>
<td class="nump">2,338,299<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims', window );">Common stock issued to consultants</a></td>
<td class="nump">27,996<span></span>
</td>
<td class="nump">46,100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AmortizationOfIntangibleAssets', window );">Amortization of patents</a></td>
<td class="nump">243,972<span></span>
</td>
<td class="nump">243,972<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccretionOfInterestOnPatentAcquisitionObligationsToInterestExpense', window );">Accretion of interest on patent acquisition obligations to interest expense</a></td>
<td class="nump">383,238<span></span>
</td>
<td class="nump">333,779<span></span>
</td>
</tr>
<tr class="re">
<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="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants', window );">Loss on acquisition of 32,000 shares of common stock and cancellation of warrants to purchase 16,000 shares of common stock</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">101,280<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNoncashIncomeExpense', window );">Other</a></td>
<td class="nump">24,915<span></span>
</td>
<td class="nump">19,363<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ChangeInOperatingAssetsAndLiabilitiesAbstract', window );"><strong>Change in operating assets and liabilities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable</a></td>
<td class="text"> <span></span>
</td>
<td class="nump">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_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets', window );">Prepaid expenses and other current assets</a></td>
<td class="nump">70,100<span></span>
</td>
<td class="num">(133,035)<span></span>
</td>
</tr>
<tr class="re">
<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">150,859<span></span>
</td>
<td class="num">(813,300)<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">(213,017)<span></span>
</td>
<td class="num">(284,536)<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">(2,698,705)<span></span>
</td>
<td class="nump">2,165,292<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">(1,900,000)<span></span>
</td>
<td class="num">(2,550,000)<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 and sales of short-term investments in certificates of deposit</a></td>
<td class="nump">2,400,000<span></span>
</td>
<td class="nump">2,650,000<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 );">Purchase of property and equipment</a></td>
<td class="num">(144,650)<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 investing activities</a></td>
<td class="nump">355,350<span></span>
</td>
<td class="nump">45,224<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from exercise of employee stock options</a></td>
<td class="nump">23,381<span></span>
</td>
<td class="nump">34,335<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant', window );">Payments to acquire 32,000 share common stock and cancellation of warrants to purchase 16,000 shares common stock</a></td>
<td class="text"> <span></span>
</td>
<td class="num">(445,252)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash provided by (used in) financing activities</a></td>
<td class="nump">23,381<span></span>
</td>
<td class="num">(410,917)<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">(2,319,974)<span></span>
</td>
<td class="nump">1,799,599<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 2,049,245<span></span>
</td>
<td class="nump">$ 5,160,845<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_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>
</tr>
<tr>
<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_itus_ChangeInOperatingAssetsAndLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ChangeInOperatingAssetsAndLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The gains and losses resulting from the acquisition of common stock and cancellatio n of warrants to purchase common stock</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_GainLossOnSaleOnAcquisitionOfCommonStockAndCancellationOfWarrants</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred for royalties and legal fees.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_IncreaseDecreaseInRoyaltiesAndContingentLegalFeesPayable</td>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
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</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow to reacquire common stock and cancellation of warrant during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_PaymentsForRepurchaseOfCommonStockAndCancellationOfWarrant</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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</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=66902209&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=66006027&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>
<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_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=66902209&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=66902209&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_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=66902209&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>Amount of increase (decrease) in prepaid expenses, and assets classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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=66902209&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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=66902209&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</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=66902209&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=66902209&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_NetCashProvidedByUsedInInvestingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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=66902209&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=66902209&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=66902209&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>
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<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_NetCashProvidedByUsedInOperatingActivitiesAbstract</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 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=66902209&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 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 4: 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(22))<br> -URI http://asc.fasb.org/extlink&amp;oid=6879574&amp;loc=d3e536633-122882<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(18))<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> -Glossary Other Comprehensive Income<br> -URI http://asc.fasb.org/extlink&amp;oid=51831270<br><br>Reference 7: 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(20))<br> -URI http://asc.fasb.org/extlink&amp;oid=63488584&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_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;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNoncashIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=66902209&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>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueAcquisitions">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value of stock issued pursuant to acquisitions during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.29-31)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodValueAcquisitions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockOptionPlanExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The noncash expense that accounts for the value of stock or unit options distributed to employees as compensation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3602-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockOptionPlanExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6776200128">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (Parentheticals)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 31, 2015 </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_TreasuryStockSharesAcquired', window );">Number of Common Stock Acquired</a></td>
<td class="nump">32,000<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_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Number Of Warrants Cancelled</a></td>
<td class="nump">16,000<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_ShareRepurchaseProgramAxis=itus_StockRepurchasedOtherThanOpenMarketTransactionMember', window );">Stock Repurchased Other Than Open Market Transaction [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="nump">32,000<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_ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights', window );">Number Of Warrants Cancelled</a></td>
<td class="nump">16,000<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of securities into which the class of warrant or right may be converted. For example, but not limited to, 500,000 warrants may be converted into 1,000,000 shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(i)(2))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares that have been repurchased during the period and are being held in treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -URI http://asc.fasb.org/extlink&amp;oid=27012166&amp;loc=d3e187085-122770<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br></p></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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6772647264">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BUSINESS AND FUNDING<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th"><div>Jul. 31, 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_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock', window );">Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px"><font style="FONT-SIZE:12pt">1. <u>BUSINESS&#160;AND&#160;FUNDING</u> </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Description of Business</u> </font></font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">As used herein, &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our,&#8221; the &#8220;Company&#8221; or &#8220;ITUS&#8221; means ITUS Corporation and its wholly-owned subsidiaries.&#160;&#160;From inception through October 2012, our primary operations involved the development of patented technologies in the areas of thin-film displays and encryption.&#160;&#160;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&#8217;s assets, seek reparations from a previous joint development partner, change the Company&#8217;s name and ticker symbol, relocate the Company&#8217;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&#8217;s stock was accepted for listing and began trading on the NASDAQ Capital Market. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">In June of 2015, the Company announced its intention to develop non-invasive blood tests for the early detection of solid tumor based cancers. In July of 2015, the Company entered into a collaborative research agreement with The Wistar Institute (&#8220;Wistar&#8221;), the nation&#8217;s first independent biomedical research institute and a leading National Cancer Institute designated cancer research center, for the purpose of validating the Company&#8217;s cancer detection methodologies and establishing protocols for identifying certain biomarkers in the blood stream identified by the Company and associated with solid tumors. This cancer diagnostic platform being developed with Wistar is called CchekTM.&#160;&#160;In October of 2015, the Company and Wistar announced very favorable results from initial testing of a small group of breast cancer patients and healthy controls. One hundred percent (100%) of the blood samples tested from breast cancer patients showed the presence of the biomarkers identified by the Company, and none of the healthy patient blood samples contained the biomarkers. A more extensive clinical study is currently being conducted and in April 2016, the Company announced that its CchekTM cancer diagnostic platform was successfully used to detect the presence of lung cancer.</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">Over the next several quarters, we expect cancer diagnostics to be the primary focus of the Company. On August 15, 2016, the Company announced that it has extended and expanded its arrangement with Wistar with respect to the development of CchekTM.&#160;&#160;As part of our legacy operations, the Company had outsourced a small development project in connection with one of the Company&#8217;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.&#160;&#160;We do not expect these activities to be a significant part of the Company&#8217;s ongoing operations.</font></p><br/><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. The Company expects to make investments in and form new companies to develop additional emerging technologies. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>AUO Lawsuit and Settlement</u> </font></font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt">On December 29, 2014, the Company settled a lawsuit filed by the Company against AU Optronics Corporation (&#8220;AUO&#8221;) in connection with the joint development and commercialization of certain of the Company&#8217;s patented technologies and received an aggregate of $9,000,000 from AUO. For more information regarding the settlement with AUO, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) December 23, 2015. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Funding and Management&#8217;s Plans</u> </font></font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">During the nine months ended July 31, 2016, cash used in operating activities was approximately $2,699,000.&#160;&#160;Net cash provided by investing activities was approximately $355,000, which reflected proceeds from the sale or maturity of certificates of deposit totaling $2,400,000, which was offset by the purchase&#160;of certificates of deposit totaling $1,900,000 and the purchase of property and equipment of approximately $145,000.&#160;&#160;Cash provided by financing activities was approximately $23,000, representing proceeds from the exercise of stock options.&#160;&#160;As a result, our cash, cash equivalents and short-term investments at July 31, 2016 decreased by approximately $2,820,000 to approximately $3,949,000 from approximately $6,769,000 at the end of fiscal year 2015. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">Based on currently available information as of August 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.&#160; However, our projections of future cash needs and cash flows may differ from actual results. If current cash on hand, cash equivalents, short term investments and cash that may be generated from our business operations are insufficient to satisfy our liquidity requirements, we may seek to sell equity securities or obtain loans from various financial institutions where possible.&#160; 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.&#160; 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.&#160; </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Reverse Stock Split</u> </font></font></p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 54px;" align="justify"><font style="font-size: 12pt;">On June 26, 2015, we effected a 1-for-25 reverse stock split (the &#x201c;Stock Split&#x201d;) of our issued common stock and preferred stock. Each shareholder&#x2019;s 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.&#160;&#160;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. <br /></font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Basis of Presentation</u> </font></font></p><br/><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.&#160;&#160;Accordingly, certain information and footnotes required by generally accepted accounting principles in annual financial statements have been omitted or condensed.&#160;&#160;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.&#160;&#160;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 (&#8220;US GAAP&#8221;).&#160;&#160;The condensed consolidated financial statements include all adjustments of a normal recurring nature which, in the opinion of management, are necessary for a fair statement of our financial position as of July 31, 2016, and results of operations and cash flows for the interim periods represented.&#160;&#160;The results of operations for the nine and three months ended July 31, 2016 are not necessarily indicative of the results to be expected for the entire year. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Revenue Recognition</u>&#160; </font></font></p><br/><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><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Patent Licensing</u> </font></font></p><br/><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.&#160;&#160;These arrangements typically include some combination of the following:&#160;(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.&#160;&#160;In such instances, the intellectual property rights granted have been perpetual in nature, extending until the expiration of the related patents.&#160;&#160;Pursuant to the terms of these agreements, we had no further obligations. &#160;&#160;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><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt"><u>Intangible Assets</u> </font></font></p><br/><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.&#160;&#160;We capitalize patent and patent rights acquisition costs and amortize the cost over the estimated economic useful life.&#160;&#160;We did not capitalize any patent acquisition costs during the nine months ended July 31, 2016 and 2015. We recorded patent amortization expense of approximately $244,000 and $244,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $81,000 and $81,000 during the three months ended July 31, 2016 and 2015, respectively. </font></p><br/><p style="font-size: 12pt; margin: 0px;" align="justify"><font style="font-size: 12pt;"><font style="font-size: 12pt;"><font style="text-decoration: underline;">Impairment</font> </font></font></p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 48px;" align="justify"><font style="font-size: 12pt;">Long-lived assets, including intangible assets that are amortized, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company evaluates potential impairment by comparing the carrying amount of the assets with the estimated undiscounted future cash flows associated with them. Should the analysis indicate that an asset is not recoverable, the carrying value of the asset would be reduced to fair value and a corresponding charge would be recognized.</font></p><br/><p style="font-size: 12pt; margin: 0px; text-indent: 48px;" align="justify"><font style="font-size: 12pt;">Intangible assets that are not amortized are reviewed for impairment at least annually. The Company evaluates potential impairment by comparing the carrying amount of the asset with its estimated fair value. Should the carrying amount exceed the estimated fair value, a corresponding charge would be recognized for the difference.</font></p><br/><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>The entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6772743616">
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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">9 Months Ended</th>
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<tr><th class="th"><div>Jul. 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_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock', window );">Disclosure of Compensation Related Costs, Share-based Payments [Text Block]</a></td>
<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt">2. &#160;<u>STOCK BASED COMPENSATION</u></font></font></p><br/><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><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><u><font style="FONT-SIZE:12pt">Stock Option Compensation Expense </font></u></p><br/><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 $570,000 and $1,671,000 during the nine months ended July 31, 2016 and 2015, respectively, and approximately $240,000 and $445,000 during the three months ended July 31, 2016 and 2015, respectively. </font></p><br/><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. 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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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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="FONT-SIZE:12pt; MARGIN:0px"><font style="FONT-SIZE:12pt"><font style="FONT-SIZE:12pt">3. <u>FAIR VALUE MEASUREMENTS</u></font></font></p><br/><p style="FONT-SIZE:12pt; 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. &#160;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. &#160;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><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" 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><br/><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><br/><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. &#160;&#160;</font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt">Level 3 &#8211; 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&#8217;s own assumptions about the assumptions a market participant would use in pricing the asset and liabilities.</font></p><br/><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 July 31, 2016: </font></p><br/><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="329"> </td><td width="7"> </td><td width="82"> </td><td width="14"> </td><td width="7"> </td><td width="82"> </td><td width="14"> </td><td width="7"> </td><td width="82"> </td><td width="14"> </td><td width="7"> </td><td width="82"></td> </tr><tr> <td width="329" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;&#160;</p></td> <td width="89" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Level 1</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="89" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Level 2</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="89" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Level 3</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="89" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Total</font></p></td></tr> <tr> <td width="329" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">&#160;&#160;</font></p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="82" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="82" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="82" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="82" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="329" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">Money market funds &#8211;&#160;&#160; Cash equivalents</font></p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="82" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">1,413,112 </font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; 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MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="82" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">1,413,112 </font></p></td></tr> <tr> <td width="329" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">Certificates of deposit - Short-term investments</font></p></td> <td width="7" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="82" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="82" style="BORDER-BOTTOM:#000000 1px solid; 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MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">Money market funds &#8211;&#160; Cash equivalents</font></p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">467,967 </font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">467,967 </font></p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">Certificates of deposit - Short-term investments</font></p></td> <td width="7" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="80" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="80" style="BORDER-BOTTOM:#000000 1px solid; 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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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6772717536">
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<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt">4. <u>INVESTMENTS</u> </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">At July 31, 2016 and October 31, 2015, we had certificates of deposit of $1,900,000 and $2,400,000, respectively, which were classified as short-term investments and reported at fair value.&#160;&#160; </font></p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for 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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6780157552">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>ACCOUNTS PAYABLE AND ACCRUED EXPENSES<br></strong></div></th>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6604654016">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>NET LOSS PER SHARE OF COMMON STOCK<br></strong></div></th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for earnings per share.</p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6780157552">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS<br></strong></div></th>
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<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt">7.&#160; <u>EFFECT OF RECENTLY ADOPTED AND ISSUED PRONOUNCEMENTS</u> </font></p><br/><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 (&#8220;ASU 2014-09&#8221;), Revenue from Contracts with Customers.&#160;&#160;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. &#160;This standard update is effective for&#160;interim and annual&#160;reporting periods beginning after December 15,&#160;2016, and are to be applied retrospectively or the cumulative effect as of the date of adoption, with early application not permitted. &#160;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&#160;and related disclosures. </font></p><br/><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 (&#8220;ASU 2014-12&#8221;), Compensation &#8211; Stock Compensation.&#160;&#160;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&#160;and related disclosures. </font></p><br/><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 (&#8220;ASU 2014-15&#8221;).&#160;&#160;This amendment requires management to assess an entity&#8217;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><br/><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 (&#8220;ASU 2015-03&#8221;) 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. The adoption of this amendment did not have an impact on our financial position or results of operations. </font></p><br/><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 (&#8220;ASU 2015-17&#8221;) 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.&#160;&#160;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&#160;and related disclosures. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">In February 2016, the FASB issued Accounting Standards Update 2016-02 (&#8220;ASU 2016-02&#8221;) which requires lessees to recognize most leases on the balance sheet. This is expected to increase both reported assets and liabilities. The new lease standard does not substantially change lessor accounting. For public companies, the standard will be effective for the first interim reporting period within annual periods beginning after December 15, 2018, although early adoption is permitted. Lessees and lessors will be required to apply the new standard at the beginning of the earliest period presented in the financial statements in which they first apply the new guidance, using a modified retrospective transition method. The requirements of this standard include a significant increase in required disclosures. We are currently evaluating the impact ASU 2016-02 will have on our consolidated financial statements&#160;and related disclosures. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">In March 2016, the FASB issued Accounting Standards Update 2016-09 (&#8220;ASU 2016-09&#8221;) that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires all income tax effects of awards to be recognized in the income statement when the awards vest or are settled. It also allows an employer to repurchase more of an employee&#8217;s shares than it can today for tax withholding purposes without triggering liability accounting and to make a policy election for forfeitures as they occur. The guidance is effective for public business entities for fiscal years beginning after December 15, 2016, and interim periods within those years. Early adoption is permitted. We are currently evaluating the impact ASU 2016-09 will have on our consolidated financial statements&#160;and related disclosures. </font><br /></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>
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>INCOME TAXES<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px"><font style="FONT-SIZE:12pt">8. <u>INCOME TAXES </u></font></p><br/><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.&#160;&#160;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.&#160;&#160;We account for interest and penalties related to income tax matters, if any, in marketing, general and administrative expenses. There are no unrecognized income tax benefits as of July 31, 2016 and October 31, 2015. </font></p><br/><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.&#160;&#160;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><br/><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).&#160;&#160;As a result, we realized taxable income during the first quarter of fiscal year 2015, but not for the fiscal year ended October 31, 2015.&#160;&#160;Accordingly, we have not recorded a tax provision for the nine months ended July 31, 2015. </font></p><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 235<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08.(h))<br> -URI http://asc.fasb.org/extlink&amp;oid=26873400&amp;loc=d3e23780-122690<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 3<br> -URI http://asc.fasb.org/extlink&amp;oid=65882285&amp;loc=d3e32559-109319<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 15<br> -URI http://asc.fasb.org/extlink&amp;oid=65882285&amp;loc=d3e32718-109319<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -URI http://asc.fasb.org/extlink&amp;oid=65882285&amp;loc=d3e32639-109319<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 740<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=65882285&amp;loc=d3e32537-109319<br></p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6772648784">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>COMMITMENT AND CONTINGENCES<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<td class="text"><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt">9. <u>COMMITMENT AND CONTINGENCES</u> </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><u>Patent Acquisition Obligations</u> </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">As of July 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 $4,071,000, and which amount will be reduced by royalties paid during the period, if any.&#160;&#160;The payment due in November 2017 is payable at the option of the Company in cash or common stock.&#160;&#160;We recorded interest expense of approximately $383,000 and $334,000, respectively, for the nine months ended July 31, 2016 and 2015, for the accretion of interest on patent acquisition obligations. </font></p><br/><p style="FONT-SIZE:12pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:12pt"><u>Litigation Matters</u> </font></p><br/><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><br/><p style="FONT-SIZE:12pt; MARGIN:0px; TEXT-INDENT:48px" align="justify"><font style="FONT-SIZE:12pt">Other than suits we bring to enforce patent rights we are not a party to any material pending legal proceedings other than that which arise in the ordinary course of business. &#160;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><br/><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 20<br> -Section 50<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=6449706&amp;loc=d3e16207-108621<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=68068213&amp;loc=d3e12565-110249<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 450<br> -SubTopic 20<br> -Section 50<br> -Paragraph 4<br> -URI http://asc.fasb.org/extlink&amp;oid=25496072&amp;loc=d3e14435-108349<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.25)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 440<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=73718637&amp;loc=d3e25287-109308<br></p></div>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6776758896">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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<tr><th class="th"><div>Jul. 31, 2016</div></th></tr>
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<tr class="re">
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<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="429"> </td><td width="86"> </td><td width="11"> </td><td width="8"> </td><td width="104"> </td><td width="11"> </td><td width="8"> </td><td width="86"></td> </tr><tr> <td width="429" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="86" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="11" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="113" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" rowspan="3" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">&#160;Weighted</font></p> <p style="FONT-SIZE:12pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Average Exercise</font></p> <p style="FONT-SIZE:12pt; 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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_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="219"> </td><td width="14"> </td><td width="161"> </td><td width="14"> </td><td width="161"> </td><td width="14"> </td><td width="14"> </td><td width="131"></td> </tr><tr> <td width="219" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="161" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" rowspan="4" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Number</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Outstanding</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">and</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Exercisable</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; 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MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">40,000</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="161" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">1.06</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="131" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">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="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="436"> </td><td width="93"> </td><td width="15"> </td><td width="8"> </td><td width="95"> </td><td width="15"> </td><td width="7"> </td><td width="93"></td> </tr><tr> <td width="436" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="93" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="15" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="103" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" rowspan="3" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">&#160;Weighted</font></p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Average Exercise</font></p> <p style="FONT-SIZE:11pt; 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</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock', window );">Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block]</a></td>
<td class="text"><table style="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center"><tr style="font-size: 0px;"><td width="95">&#160;</td><td width="15">&#160;</td><td width="95">&#160;</td><td width="96">&#160;</td><td width="15">&#160;</td><td width="95">&#160;</td><td width="15">&#160;</td><td width="95">&#160;</td><td width="96">&#160;</td><td width="15">&#160;</td><td width="95">&#160;</td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" colspan="4" valign="bottom" width="303"><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Options Outstanding </font></p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; 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margin: 0px;" align="center"><font style="font-size: 11pt;">(in years)</font></p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" rowspan="5" valign="bottom" width="96"><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Weighted</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Average</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Remaining</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Contractual Life </font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">(in years)</font></p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" rowspan="3" valign="bottom" width="95"><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Weighted</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Average</font></p><p style="font-size: 11pt; 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margin: 0px;">&#160;</p></td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 11pt; margin: 0px;" align="center">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 11pt; margin: 0px;" align="center">&#160;</p></td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="96"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="96"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td></tr><tr><td style="margin-top: 0px; background-color: #cceeff;" valign="bottom" width="95"><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">$2.58 - $9.25</font></p></td><td style="margin-top: 0px; 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margin: 0px;" align="right">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="96"><p style="font-size: 1pt; margin: 0px;" align="center">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 1pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 1pt; margin: 0px;" align="right">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 1pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="font-size: 1pt; margin: 0px;" align="right">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="96"><p style="font-size: 1pt; margin: 0px;" align="center">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="15"><p style="font-size: 1pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="95"><p style="margin: 0px; padding: 0px; text-align: right;">&#160;<font style="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="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="417"> </td><td width="88"> </td><td width="13"> </td><td width="8"> </td><td width="95"> </td><td width="13"> </td><td width="7"> </td><td width="87"></td> </tr><tr> <td width="417" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="88" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="103" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" rowspan="3" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">&#160;Weighted</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Average Exercise</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Price Per Share</p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="95" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" rowspan="3" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Aggregate</p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Intrinsic </p> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Value</p></td></tr> <tr> <td width="417" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="88" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="417" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="88" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center">Shares</p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="417" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding at October 31, 2015</p></td> <td width="88" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">1,780,000 </p></td> <td width="13" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="8" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="95" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">2.70 </p></td> <td width="13" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="87" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="417" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Options Outstanding and exercisable at July 31, 2016</p></td> <td width="88" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">1,780,000 </p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="8" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="95" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">2.70 </p></td> <td width="13" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="87" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">416,010</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="font-size: 10pt; margin-top: 0px;" cellspacing="0" cellpadding="0" align="center"><tr style="font-size: 0px;"><td width="219">&#160;</td><td width="14">&#160;</td><td width="161">&#160;</td><td width="14">&#160;</td><td width="161">&#160;</td><td width="14">&#160;</td><td width="14">&#160;</td><td width="131">&#160;</td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="219"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" rowspan="4" valign="bottom" width="161"><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Number</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Outstanding</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">and</font></p><p style="font-size: 11pt; 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margin: 0px;">&#160;</p></td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="219"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 12pt; margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" rowspan="3" valign="bottom" width="131"><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Weighted</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Average</font></p><p style="font-size: 11pt; margin: 0px;" align="center"><font style="font-size: 11pt;">Exercise Price</font></p></td></tr><tr><td style="border-bottom: #000000 1px solid; 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margin: 0px;">&#160;</p></td><td style="border-bottom: #000000 1px solid; margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; margin: 0px;" align="center">&#160;</p></td></tr><tr><td style="margin-top: 0px;" valign="bottom" width="219"><p style="font-size: 11pt; margin: 0px;" align="center">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="161"><p style="font-size: 11pt; margin: 0px;" align="right">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="161"><p style="font-size: 11pt; margin: 0px;" align="center">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; margin: 0px;" align="right">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 11pt; 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margin: 0px;" align="center">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 1pt; margin: 0px;" align="right">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="14"><p style="font-size: 1pt; margin: 0px;">&#160;</p></td><td style="margin-top: 0px;" valign="bottom" width="131"><p style="margin: 0px; padding: 0px; text-align: right;">&#160;<font style="display: none;">.</font></p></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of 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>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>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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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Tables)<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
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MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">467,967 </font></p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; 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MARGIN:0px">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="80" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="80" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">2,400,000 </font></p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><font style="FONT-SIZE:11pt">Total financial assets</font></p></td> <td width="7" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">467,967 </font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">2,400,000 </font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&#160;</p></td> <td width="7" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">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="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="337"> </td><td width="7"> </td><td width="80"> </td><td width="14"> </td><td width="7"> </td><td width="80"> </td><td width="14"> </td><td width="7"> </td><td width="80"> </td><td width="14"> </td><td width="7"> </td><td width="80"></td> </tr><tr> <td width="337" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;&#160;</p></td> <td width="88" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Level 1</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="88" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Level 2</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="87" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Level 3</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="87" colspan="2" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="center"><font style="FONT-SIZE:11pt">Total</font></p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">&#160;&#160;</font></p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">Patent acquisition obligation</font></p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">-</font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">4,071,425 </font></p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px"><font style="FONT-SIZE:11pt">$</font></p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right"><font style="FONT-SIZE:11pt">4,071,425 </font></p></td></tr></table><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="337"> </td><td width="7"> </td><td width="80"> </td><td width="14"> </td><td width="7"> </td><td width="80"> </td><td width="14"> </td><td width="7"> </td><td width="80"> </td><td width="14"> </td><td width="7"> </td><td width="80"></td> </tr><tr> <td width="337" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; 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MARGIN:0px">&#160;&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="80" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="337" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">Patent acquisition obligation</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">-</p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">-</p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">3,688,187&#160; </p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">&#160;</p></td> <td width="7" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px">$</p></td> <td width="80" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">3,688,187&#160; </p></td></tr></table><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_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock', window );">Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]</a></td>
<td class="text"><table style="FONT-SIZE:10pt; MARGIN-TOP:0px" cellpadding="0" cellspacing="0" align="center"> <tr style="FONT-SIZE:0px"> <td width="630"> </td><td width="14"> </td><td width="87"></td> </tr><tr> <td width="630" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="87" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="630" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify"><u>Patent acquisition obligation</u></p></td> <td width="14" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td> <td width="87" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:12pt; MARGIN:0px">&#160;</p></td></tr> <tr> <td width="630" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Balance October 31, 2015</p></td> <td width="14" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">$</p></td> <td width="87" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">3,688,187 </p></td></tr> <tr> <td width="630" style="MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Accreted interest on patent obligation</p></td> <td width="14" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">&#160;</p></td> <td width="87" style="BORDER-BOTTOM:#000000 1px solid; MARGIN-TOP:0px" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">383,238 </p></td></tr> <tr> <td width="630" style="MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">Balance July 31, 2016</p></td> <td width="14" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="justify">$</p></td> <td width="87" style="BORDER-BOTTOM:#000000 3px double; MARGIN-TOP:0px; BACKGROUND-COLOR:#cceeff" valign="bottom"> <p style="FONT-SIZE:11pt; MARGIN:0px" align="right">4,071,425 </p></td></tr></table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19207-110258<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 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19190-110258<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19207-110258<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><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 1<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19190-110258<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 (b)<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19207-110258<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 820<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66048111&amp;loc=d3e19207-110258<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6790037904">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>BUSINESS AND FUNDING (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th"><div>Dec. 29, 2014</div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
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<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Accounting Policies [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromLegalSettlements', window );">Proceeds from Legal Settlements</a></td>
<td class="nump">$ 9,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</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_NetCashProvidedByUsedInOperatingActivities', window );">Net Cash Provided by (Used in) Operating Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">$ (2,698,705)<span></span>
</td>
<td class="nump">$ 2,165,292<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net Cash Provided by (Used in) Investing Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">355,350<span></span>
</td>
<td class="nump">45,224<span></span>
</td>
<td class="text">&#160;<span></span>
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<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromSaleOfShortTermInvestments', window );">Proceeds from Sale of Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">2,400,000<span></span>
</td>
<td class="nump">2,650,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,900,000<span></span>
</td>
<td class="nump">2,550,000<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">144,650<span></span>
</td>
<td class="nump">54,776<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net Cash Provided by (Used in) Financing Activities</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">23,381<span></span>
</td>
<td class="num">(410,917)<span></span>
</td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashPeriodIncreaseDecrease', window );">Cash, Period Increase (Decrease)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(2,820,000)<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_CashCashEquivalentsAndShortTermInvestments', window );">Cash, Cash Equivalents, and Short-term Investments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 3,949,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,949,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,769,000<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_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="nump">$ 243,972<span></span>
</td>
<td class="nump">$ 243,972<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountingPoliciesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountingPoliciesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AmortizationOfIntangibleAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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=66902209&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=66006027&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>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsAndShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash<br> -URI http://asc.fasb.org/extlink&amp;oid=6506951<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsAndShortTermInvestments</td>
</tr>
<tr>
<td style="padding-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_CashPeriodIncreaseDecrease">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash. Cash is the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Includes effect from exchange rate changes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 830<br> -SubTopic 230<br> -Section 45<br> -Paragraph 1<br> -URI http://asc.fasb.org/extlink&amp;oid=49171198&amp;loc=d3e33268-110906<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashPeriodIncreaseDecrease</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInFinancingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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=66902209&amp;loc=d3e3574-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInFinancingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInInvestingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 24<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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=66902209&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=66902209&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=66902209&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=66902209&amp;loc=d3e3536-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetCashProvidedByUsedInOperatingActivities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquirePropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsToAcquireShortTermInvestments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow for securities or other assets acquired, which qualify for treatment as an investing activity and are to be liquidated, if necessary, within the current operating cycle. Includes cash flows from securities classified as trading securities that were acquired for reasons other than sale in the short-term.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Investing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6516133<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 13<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3213-108585<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsToAcquireShortTermInvestments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProceedsFromLegalSettlements">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cash received for the settlement of litigation during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (c)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&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_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=66902209&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>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>33
<FILENAME>R22.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6785042000">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>STOCK BASED COMPENSATION (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="2">3 Months Ended</th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="nump">$ 240,000<span></span>
</td>
<td class="nump">$ 445,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from Stock Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,381<span></span>
</td>
<td class="nump">$ 34,335<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">$ 335,000<span></span>
</td>
<td class="nump">$ 0<span></span>
</td>
<td class="nump">$ 668,000<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_StockIssuedDuringPeriodSharesIssuedForServices', window );">Stock Issued During Period, Shares, Issued for Services (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,795<span></span>
</td>
<td class="nump">11,600<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_ConsultationFeesRelatedToOptions', window );">Consultation Fees Related To Options</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 28,000<span></span>
</td>
<td class="nump">$ 46,000<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensation', window );">Share-based Compensation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 570,000<span></span>
</td>
<td class="nump">$ 1,671,000<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,080<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,795<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember', window );">2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">545,000<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.92<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">443,955<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">443,955<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">545,000<span></span>
</td>
<td class="nump">60,400<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2.92<span></span>
</td>
<td class="nump">$ 2.91<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in Shares)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,080<span></span>
</td>
<td class="nump">13,334<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromStockOptionsExercised', window );">Proceeds from Stock Options Exercised</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 23,000<span></span>
</td>
<td class="nump">$ 34,000<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_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember', window );">Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,780,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MinimumMember', window );">Minimum [Member] | Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1 year<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RangeAxis=us-gaap_MaximumMember', window );">Maximum [Member] | Employee Stock Option [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<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">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">10 years<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</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_ProceedsFromStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (j)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 14<br> -Subparagraph (a)<br> -URI http://asc.fasb.org/extlink&amp;oid=66902209&amp;loc=d3e3255-108585<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Financing Activities<br> -URI http://asc.fasb.org/extlink&amp;oid=6513228<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProceedsFromStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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=66902209&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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The difference between the maximum number of shares (or other type of equity) authorized for issuance under the plan (including the effects of amendments and adjustments), and the sum of: 1) the number of shares (or other type of equity) already issued upon exercise of options or other equity-based awards under the plan; and 2) shares (or other type of equity) reserved for issuance on granting of outstanding awards, net of cancellations and forfeitures, if applicable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesIssuedForServices">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued in lieu of cash for services contributed to the entity. Number of shares includes, but is not limited to, shares issued for services contributed by vendors and founders.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockIssuedDuringPeriodSharesIssuedForServices</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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 FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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 4: 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 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 2<br> -Subparagraph (c)(1)(iv)(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_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AwardTypeAxis=us-gaap_EmployeeStockOptionMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ConsultantMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=itus_ConsultantMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=itus_StockOptionsGrantedToEmployeesAndDirectorsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=itus_StockOptionsGrantedToEmployeesAndDirectorsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementEquityComponentsAxis=us-gaap_CommonStockMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_P2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2010SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_StockOptionsNotGrantedUnder2003SharePlanOr2010SharePlanMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<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>
<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_RangeAxis=us-gaap_MinimumMember</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_RangeAxis=us-gaap_MaximumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.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_RangeAxis=us-gaap_MaximumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>34
<FILENAME>R23.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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<body>
<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6771069648">
<tr>
<th class="tl" colspan="1" rowspan="2"><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" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 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>
</tr>
<tr class="re">
<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 " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised', window );">Exercised | shares</a></td>
<td class="num">(9,080)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice', window );">Exercised | $ / shares</a></td>
<td class="nump">$ 2.58<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod', window );">Forfeited | shares</a></td>
<td class="num">(120,320)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice', window );">Forfeited | $ / shares</a></td>
<td class="nump">$ 17.89<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 July 31, 2016 | shares</a></td>
<td class="nump">236,800<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice', window );">Options Outstanding and exercisable at July 31, 2016 | $ / shares</a></td>
<td class="nump">$ 18.43<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 July 31, 2016 | $</a></td>
<td class="nump">$ 20,040<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>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount by which the current fair value of the underlying stock exceeds the exercise price of options outstanding and exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableIntrinsicValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding and exercisable, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price per share at which the shares are outstanding and exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingAndExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iv)(3)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of options outstanding, including both vested and non-vested options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which option holders acquired shares when converting their stock options into shares.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesStockOptionsExercised">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of share options (or share units) exercised during the current period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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 FASB<br> -Name Accounting Standards Codification<br> -Topic 505<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6928386&amp;loc=d3e21463-112644<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 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 4: 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 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 2<br> -Subparagraph (c)(1)(iv)(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_StockIssuedDuringPeriodSharesStockOptionsExercised</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6782939424">
<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">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 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_RangeOfExercisePrices179To775Member', window );">Range Of Exercise Prices $1.79 To $7.75 [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">43,200<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 343 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">$ 2.89<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_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">211 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">94,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_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="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">$ 22.04<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 21 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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>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>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>itus_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<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>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices179To775Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PlanNameAxis=itus_P2003SharePlanMember</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>
<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1350To1750Member</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>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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</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 );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices1875To2300Member</td>
</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>
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<tr>
<td><strong> Period Type:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices2925Member</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>36
<FILENAME>R25.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6779115904">
<tr>
<th class="tl" colspan="1" rowspan="2"><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" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross', window );">Granted | shares</a></td>
<td class="nump">545,000<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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice', window );">Granted | $ / shares</a></td>
<td class="nump">$ 2.92<span></span>
</td>
</tr>
<tr class="ro">
<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 July 31, 2016 | shares</a></td>
<td class="nump">1,071,272<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 July 31, 2016 | $ / shares</a></td>
<td class="nump">$ 3.12<span></span>
</td>
</tr>
<tr class="ro">
<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 July 31, 2016 | $</a></td>
<td class="nump">$ 390,302<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber', window );">Options Exercisable at July 31, 2016 | shares</a></td>
<td class="nump">582,646<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice', window );">Options Exercisable at July 31, 2016 | $ / shares</a></td>
<td class="nump">$ 3.21<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1', window );">Options Exercisable at July 31, 2016 | $</a></td>
<td class="nump">$ 254,979<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>
<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_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares into which fully or partially vested stock options outstanding as of the balance sheet date can be currently converted under the option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross number of share options (or share units) granted during the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>num:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1</td>
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<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_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>
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</DOCUMENT>
<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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6771084416">
<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 $9.25 [Member] - 2010 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 31, 2016 </div>
<div>$ / 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">1,071,272<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 306 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">$ 3.12<span></span>
</td>
</tr>
<tr class="re">
<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">582,646<span></span>
</td>
</tr>
<tr class="ro">
<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 142 days<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1', window );">Options Exercisable, Weighted Average Exercise Price | $ / shares</a></td>
<td class="nump">$ 3.21<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeLineItems</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td>xbrli:stringItemType</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>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding exercisable stock options as of the balance sheet date in the customized range of exercise prices for which the market and performance vesting condition has been satisfied.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(iii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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</table></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of shares reserved for issuance pertaining to the outstanding stock options as of the balance sheet date for all option plans in the customized range of exercise prices.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (c)(1)(i)-(ii)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average exercise price as of the balance sheet date for those equity-based payment arrangements exercisable and outstanding.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -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>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of exercisable stock options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 718<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (e)(2)<br> -URI http://asc.fasb.org/extlink&amp;oid=6415400&amp;loc=d3e5070-113901<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageRemainingContractualTerm2</td>
</tr>
<tr>
<td style="padding-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>
</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_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>xbrli:durationItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeAxis=itus_RangeOfExercisePrices258To925Member</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<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>
</tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>38
<FILENAME>R27.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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6779299680">
<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 ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_STOCKBASEDCOMPENSATIONDetailsInformationregardingStockoptionsgrantednotunder2003SharePlanand2010SharePlanLineItems', window );"><strong>STOCK BASED COMPENSATION (Details) - Information regarding Stock options granted not under 2003 Share Plan and 2010 Share Plan [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber', window );">Options Outstanding at October 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,780,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice', window );">Options Outstanding at October 31, 2015</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 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 July 31, 2016</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 July 31, 2016</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 July 31, 2016</a></td>
<td class="nump">$ 416,010<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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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>xbrli:monetaryItemType</td>
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<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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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</div></td></tr>
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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>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>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>num:perShareItemType</td>
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<td>na</td>
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<td>instant</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- 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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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6772796528">
<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 $5.56 [Member] - Stock Options Not Granted Under 2003 Share Plan Or 2010 Share Plan [Member]<br></strong></div></th>
<th class="th" colspan="1">9 Months Ended</th>
</tr>
<tr><th class="th">
<div>Jul. 31, 2016 </div>
<div>$ / 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 3 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>num:perShareItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Weighted average remaining contractual term of outstanding 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;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6785093776">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialassetsmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial assets measured at fair value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsFairValueDisclosureRecurring', window );">Financial assets</a></td>
<td class="nump">$ 3,313,122<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">1,413,112<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">1,900,000<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">1,413,112<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">1,413,112<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">1,900,000<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">1,900,000<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">
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<td><strong> Name:</strong></td>
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<td><strong> Period Type:</strong></td>
<td></td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_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>
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<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 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>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<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>na</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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<body>
<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6779099568">
<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 ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_FAIRVALUEMEASUREMENTSDetailsHierarchyforfinancialliabilitiesmeasuredatfairvalueLineItems', window );"><strong>FAIR VALUE MEASUREMENTS (Details) - Hierarchy for financial liabilities measured at fair value [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesFairValueDisclosureRecurring', window );">Financial Liability</a></td>
<td class="nump">$ 4,071,425<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">$ 4,071,425<span></span>
</td>
<td class="nump">$ 3,688,187<span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_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">
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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=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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<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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<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';
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<body>
<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6616050752">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>FAIR VALUE MEASUREMENTS (Details) - Changes in the fair value of the Company's Level 3 financial liabilities measured at fair value - USD ($)<br></strong></div></th>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_PatentAcquisitionObligationAbstract', window );"><strong>Patent acquisition obligation</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance October 31, 2015</a></td>
<td class="nump">$ 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">383,238<span></span>
</td>
<td class="nump">$ 333,779<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_FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue', window );">Balance July 31, 2016</a></td>
<td class="nump">$ 4,071,425<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> Balance Type:</strong></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 );">- 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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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></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=66048111&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>
</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>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6772617312">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>INVESTMENTS (Details) - USD ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_invest_InvestmentsScheduleAbstract', window );"><strong>Investments Schedule [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CertificatesOfDepositAtCarryingValue', window );">Certificates of Deposit, at Carrying Value</a></td>
<td class="nump">$ 1,900,000<span></span>
</td>
<td class="nump">$ 2,400,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">invest_InvestmentsScheduleAbstract</td>
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<td>invest_</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>
<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_CertificatesOfDepositAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A savings certificate entitling the Entity (that is, bearer) to receive interest at an established maturity date, based upon a fixed interest rate.  A certificate of deposit may be issued in any denomination. Certificates of deposit are generally issued by commercial banks and, therefore, insured by the FDIC (up to the prescribed limit).  Certificates of deposit generally restrict holders from withdrawing funds on demand without the incurrence of penalties.  Generally, only certificates of deposit with original maturities of three months or less qualify as cash equivalents. Original maturity means original maturity to the entity holding the investment. As a related example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Cash Equivalents<br> -URI http://asc.fasb.org/extlink&amp;oid=6507016<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.1)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CertificatesOfDepositAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6618581520">
<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 ($)<br></strong></div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Oct. 31, 2015</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_itus_AccountsPayableAndAccruedExpenseAbstract', window );"><strong>Accounts payable and accrued expense [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">$ 444,822<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">49,932<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">36,870<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_AccountsPayableAndAccruedLiabilitiesCurrent', window );">Total</a></td>
<td class="nump">$ 531,624<span></span>
</td>
<td class="nump">$ 380,765<span></span>
</td>
</tr>
</table>
<div style="display: none;">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">itus_AccountsPayableAndAccruedExpenseAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</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_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>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.19(a))<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
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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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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherAccruedLiabilitiesCurrent">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expenses incurred but not yet paid classified as other, due 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 9<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e7018-107765<br><br>Reference 2: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Glossary Current Liabilities<br> -URI http://asc.fasb.org/extlink&amp;oid=6509677<br><br>Reference 3: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 6<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6911-107765<br><br>Reference 4: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section 45<br> -Paragraph 8<br> -URI http://asc.fasb.org/extlink&amp;oid=28358313&amp;loc=d3e6935-107765<br><br>Reference 5: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher FASB<br> -Name Accounting Standards Codification<br> -Topic 210<br> -SubTopic 10<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02.20)<br> -URI http://asc.fasb.org/extlink&amp;oid=6877327&amp;loc=d3e13212-122682<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<span style="display: none;">v3.5.0.2</span><table class="report" border="0" cellspacing="2" id="idp6776599408">
<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>
<th class="th" colspan="2">9 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 31, 2015</div></th>
<th class="th"><div>Jul. 31, 2016</div></th>
<th class="th"><div>Jul. 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>
<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>
<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">3,088,072<span></span>
</td>
<td class="nump">2,724,072<span></span>
</td>
<td class="nump">3,088,072<span></span>
</td>
<td class="nump">2,724,072<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<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">707,387<span></span>
</td>
<td class="nump">1,028,932<span></span>
</td>
<td class="nump">707,387<span></span>
</td>
<td class="nump">1,028,932<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>
<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>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<td class="nump">739,958<span></span>
</td>
<td class="nump">739,958<span></span>
</td>
<td class="nump">739,958<span></span>
</td>
<td class="nump">739,958<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">
<tr>
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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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<div>Dec. 29, 2014 </div>
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<td class="text">&#160;<span></span>
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<td class="nump">$ 9,000,000<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 );">+ 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 class="text">&#160;<span></span>
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<td class="nump">$ 383,000<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>49
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/**
 * Rivet Software Inc.
 *
 * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved.
 * Version 2.4.0.3
 *
 */

var Show = {};
Show.LastAR = null,

Show.hideAR = function(){
	Show.LastAR.style.display = 'none';
};

Show.showAR = function ( link, id, win ){
	if( Show.LastAR ){
		Show.hideAR();
	}

	var ref = link;
	do {
		ref = ref.nextSibling;
	} while (ref && ref.nodeName != 'TABLE');

	if (!ref || ref.nodeName != 'TABLE') {
		var tmp = win ?
			win.document.getElementById(id) :
			document.getElementById(id);

		if( tmp ){
			ref = tmp.cloneNode(true);
			ref.id = '';
			link.parentNode.appendChild(ref);
		}
	}

	if( ref ){
		ref.style.display = 'block';
		Show.LastAR = ref;
	}
};

Show.toggleNext = function( link ){
	var ref = link;

	do{
		ref = ref.nextSibling;
	}while( ref.nodeName != 'DIV' );

	if( ref.style &&
		ref.style.display &&
		ref.style.display == 'none' ){
		ref.style.display = 'block';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '+', '-' );
		}else{
			link.innerText = link.innerText.replace( '+', '-' );
		}
	}else{
		ref.style.display = 'none';

		if( link.textContent ){
			link.textContent = link.textContent.replace( '-', '+' );
		}else{
			link.innerText = link.innerText.replace( '-', '+' );
		}
	}
};
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>50
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

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<FILENAME>0001513162-16-000968-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
