|9 Months Ended|
Jul. 31, 2011
|Stock Options [Text Block]||
On January 20, 2010, the Company approved a new 2010 Equity Compensation plan and granted 975,000 stock options to directors and consultants of the Company with exercise prices of $0.20, vested immediately and expiring on January 20, 2015.
On August 16, 2010, the Company granted 150,000 stock options to a consultant of the Company with an exercise price of $0.20, vested 75,000 immediately and 75,000 on August 16, 2011 and expiring on August 16, 2015.
On July 11, 2011, the Company granted 700,000 stock options to directors and officers of the Company with an exercise price of $0.35, vested immediately and expiring on July 11, 2016.
For the nine months period ended July 31, 2011, the Company recorded a total of $179,789 (2010: $139,050) for stock based compensation expenses.
The fair value of each option granted has been estimated as of the date of the grant using the Black-Scholes option pricing model with the following assumptions:
A summary of weighted average fair value of stock options granted during the period ended July 31, 2011 is as follows:
A summary of the stock options for the quarter ended July 31, 2011 is presented below:
The Company has the following options outstanding and exercisable:
The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.
Reference 1: http://www.xbrl.org/2003/role/presentationRef