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EXCEL - IDEA: XBRL DOCUMENT - IMPERIAL PETROLEUM RECOVERY CORPFinancial_Report.xls
10-K - IMPERIAL PETROLEUM RECOVERY CORPORATION FORM 10-K FOR THE FISCAL YEAR ENDED OCTOBER 31, 2011 - IMPERIAL PETROLEUM RECOVERY CORPimperialpetroleum10k103111.htm
XML - IDEA: XBRL DOCUMENT - IMPERIAL PETROLEUM RECOVERY CORPR1.htm
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EX-32.1 - IMPERIAL PETROLEUM RECOVERY CORPex32-1.htm
EX-10.6 - TECHNICAL SERVICES AGREEMENT - IMPERIAL PETROLEUM RECOVERY CORPex10-6.htm
EX-32.2 - IMPERIAL PETROLEUM RECOVERY CORPex32-2.htm
EX-31.1 - IMPERIAL PETROLEUM RECOVERY CORPex31-1.htm
EX-31.2 - IMPERIAL PETROLEUM RECOVERY CORPex31-2.htm
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STOCK OPTIONS AND RESTRICTED STOCK PROGRAM
12 Months Ended
Oct. 31, 2011
STOCK OPTIONS AND RESTRICTED STOCK PROGRAM [Abstract]  
STOCK OPTIONS AND RESTRICTED STOCK PROGRAM
NOTE F -STOCK OPTIONS AND RESTRICTED STOCK PROGRAM
Options

The Company grants stock options to employees for services rendered. The stock options are also nonqualified for income tax purposes.

In March 2005, the Company issued options to the employees who were not executive officers totaling 1,225,000 shares with an exercise price $0.20. No compensation expense was recognized on the grant date.

A summary of options activities is set forth below:

   
Options
   
Weighted-average exercise price
   
Weighted-average remaining term
(in years)
   
Intrinsic
Value
 
                           
Outstanding and Exercisable at October 31, 2010
   
1,225,000
   
$
0.20
     
4.36
   
-
 
Issued
   
-
     
-
     
-
   
-
 
Expired
   
-
     
-
     
-
   
-
 
Outstanding and Exercisable at October 31, 2011
   
1,225,000
     
0.20
     
3.36
     
-
 

Restricted stock program

The Company issues shares of IPRC common stock in the form of restricted stock to participating directors, officers and employees. The restricted stock generally has a vesting period before issuance during which time it is subject to forfeiture if the participants' employment is terminated. Once issued, the stock sale is restricted under rule 144. Unearned compensation expense associated with restricted stock grants represents the market value of IPRC common stock at the dated of grant and is recognized as a charge to income ratably over the vesting period.

There were no issuances of restricted stock under the restricted stock program in fiscal years from 2011 and 2010.