Quarterly report pursuant to Section 13 or 15(d)

Stock Options

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Stock Options
 3 Months Ended
Jan. 31, 2014
Stock Options [Text Block]
10.

Stock Options

       
 

For the three months ended January 31, 2014, the Company recorded a total of $Nil (2013: $Nil) for stock based compensation expenses.

       
  A summary of the stock options for the three months ended January 31, 2014 is presented below:

      Options Outstanding  
            Weighted Average  
      Number of Shares     Exercise Price  
  Balance, October 31, 2012   1,700,000   $ 0.26  
  Granted   500,000     0.10  
  Balance, January 31, 2014 and October 31, 2013   2,200,000   $ 0.23  

The Company has the following options outstanding and exercisable:

  January 31, 2014 Options outstanding Options exercisable
             
  Range of Exercise Number of Weighted average Weighted average Number of Weighted average
  prices shares remaining contractual life exercise price shares exercise price
  $0.20 150,000 1.54 years $0.20 150,000 $0.20
  $0.20 850,000 0.97 years $0.20 850,000 $0.20
  $0.35 700,000 2.45years $0.35 700,000 $0.35
  $0.10 500,000 4.38 years $0.20 500,000 $0.10
  Total 2,200,000 2.25 years $0.23 2,200,000 $0.23