Quarterly report pursuant to sections 13 or 15(d)

STATEMENTS OF OPERATIONS

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STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended 125 Months Ended
Jul. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
Jul. 31, 2011
Jul. 31, 2012
Revenue $ 0 $ 0 $ 0 $ 0 $ 1,863,343
Research & Development Expenses 1,331,415 1,958,518 5,760,158 6,392,919 28,916,898
General & Administrative Expenses 2,251,725 1,638,287 4,297,110 3,581,888 25,476,943
Total Operating expenses 3,583,140 3,596,805 10,057,268 9,974,807 54,393,841
Loss from Operations 3,583,140 (3,596,805) (10,057,268) (9,974,807) (52,530,498)
Other Income (expense):          
Interest expense (1,045,297) (1,769,974) (4,241,805) (2,721,020) (14,691,142)
Other Income 25,375 (4,004) 25,715 53,603 273,422
(Loss) on note retirement (932,421) (115,396) (2,173,491) (109,492) (978,646)
Net changes in fair value of common stock warrant liability and embedded derivative liability 2,430,914 9,127,394 6,020,434 7,134,709 20,423,120
Net (Loss) Income before benefits for income taxes (3,104,569) 3,641,215 (10,426,415) (5,617,007) (47,494,744)
Income tax benefit 0 0 346,787 379,472 1,927,260
Net Income (Loss) (3,104,569) 3,641,215 (10,079,628) (5,237,535) (45,567,484)
Dividends attributable to preferred shares 185,000 185,000 555,000 1,353,686 2,137,570
Net Income (Loss) applicable to Common Stock $ (3,289,569) $ 3,456,215 $ (10,634,628) $ (6,591,221) $ (47,705,054)
Net Income (Loss) per share, basic (in dollars per share) $ (0.01) $ 0.02 $ (0.03) $ (0.03)  
Net Income (Loss) per share, diluted (in dollars per share) $ (0.01) $ 0.01 $ (0.03) $ (0.03)  
Weighted average number of shares outstanding, basic (in shares) 346,851,744 228,375,277 298,430,345 212,269,995  
Weighted average number of shares outstanding, diluted (in shares) 346,851,744 300,847,826 298,430,345 212,388,256