Stock-based compensation and equity transactions (Tables)

6 Months Ended

Apr. 30, 2016

Disclosure Of Compensation Related Costs, Share-Based Payments [Abstract]

Computation of Weighted Average Fair Value of Employee Stock Options using Black-Scholes Option Pricing Model Assumptions

The weighted average fair value of employee and non-employee directors’ stock options granted by the Company during the six months ended April 30, 2016 and 2015 was estimated to be $0.63 and $1.00 per share, respectively, using the Black-Scholes option pricing model with the following assumptions:

	2016			2015
Risk-free interest rate		0.56	%		0.89	%
Dividend yield		2.23	%		6.38	%
Expected life of the option		2.1 years			3.5 years
Volatility factor		25.3	%		47.3	%

Summary of Status of Options Granted under Stock Option Plans and Changes in Options Outstanding

A summary of the status of the options granted under the Company’s stock option plans as of April 30, 2016 and the changes in options outstanding during the six months then ended is presented in the table that follows:

			Weighted
			Average
	Shares		Exercise Price
Outstanding at November 1, 2015		1,240,100	$	3.64
Options granted		84,936	$	3.58
Options exercised		(180,067)	$	0.27
Options canceled or expired		(37,320)	$	4.29
Options outstanding at April 30, 2016		1,107,649	$	4.17
Options exercisable at April 30, 2016		620,469	$	3.89
Options vested and expected to vest at April 30, 2016		1,101,580	$	4.16