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EXCEL - IDEA: XBRL DOCUMENT - B-Scada, Inc.Financial_Report.xls
10-K - ANNUAL REPORT - B-Scada, Inc.bscada_10k.htm
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EX-32.1 - CERTIFICATION - B-Scada, Inc.bscada_ex32.htm
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EX-31.1 - CERTIFICATION - B-Scada, Inc.bscada_ex31.htm
v2.4.0.6
Stockholders' Deficiency
12 Months Ended
Oct. 31, 2012
Notes  
Stockholders' Deficiency

(7) Stockholders’ Deficiency

 

We are authorized to issue 100,000,000 shares of common stock, par value $0.0001 per share and 5,000,000 shares of preferred stock, par value $0.0001 per share.  At October 31, 2012 there were 24,586,672 common shares issued and outstanding.  An additional 447,334 common shares were reserved for issuance as of October 31, 2012 for outstanding purchase warrants and convertible debt.  There are no shares of preferred stock issued and outstanding.

 

We entered into a consulting agreement on February 5, 2010 for financial consulting services.  As part of the compensation for services, the consultant was granted a five-year warrant to purchase 300,000 shares of our common stock at the market price per share on the date of issuance, which was $0.09.  The warrant vests 25% on the date of issuance and every three months thereafter and has cashless exercise provisions as defined in the warrant.  The fair value of the warrant, $5,833, was calculated using the Black-Scholes pricing model with the following assumptions: 0% dividend yield; 0.4% risk free interest rate; 23.81% volatility; 5 year expected life.  Share-based expense based on the fair value of the warrant is being charged to operations over the vesting period.  The expense recorded in the years ended October 31, 2012 and 2011 was $0 and $1,459, respectively.

 

The following table summarizes the warrants and options.

 

.

 

 

For the Year Ended

For the Year Ended

 

 

October 31, 2012

October 31, 2011

 

 

Shares

Weighted

Average

Exercise

Price

Shares

Weighted

Average

Exercise

Price

 

 

 

 

 

 

Outstanding at beginning

 

 

 

 

 

of period

 

5,793,750

$1.17

11,463,750

$0.69

Granted/Sold

 

--

--

--

--

Expired/Cancelled

 

(5,493,750)

$1.22

(5,670,000)

$0.20

Forfeited

 

--

--

--

--

Exercised

 

--

--

--

--

Outstanding at end of period

 

300,000

$0.09

5,793,750

$1.17

 

The following table summarizes information about stock warrants outstanding as of October 31, 2012:

 

.

 

Warrants

 

Outstanding

 

Exercisable

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

 

Remaining

Weighted

 

 

Weighted

 

 

Contractual

Average

 

 

Average

 

Number

Life

Exercise

 

Number

Exercise

Exercise Price

Outstanding

(in Years)

Price

 

Exercisable

Price

$0.09

 300,000

2.25

$0.09

 

 300,000

$0.09

 

The following table summarizes information about stock warrants outstanding as of October 31, 2011:

 

.

 

Warrants

 

Outstanding

 

Exercisable

 

 

Weighted-

 

 

 

 

 

 

Average

 

 

 

 

 

 

Remaining

Weighted

 

 

Weighted

 

 

Contractual

Average

 

 

Average

 

Number

Life

Exercise

 

Number

Exercise

Exercise Price

Outstanding

(in Years)

Price

 

Exercisable

Price

$0.09

 300,000

3.25

$0.09

 

 300,000

$0.09

$0.75

 2,022,750

0.38

$0.75

 

 2,022,750

$0.75

$1.50

 3,471,000

0.17

$1.50

 

 3,471,000

$1.50

 

At October 31, 2012 and October 31, 2011, the weighted-average exercise price of all warrants was $0.09 and $1.17, respectively, and the weighted-average remaining contractual life was 2.25 and 0.40 years, respectively.