Stock-Based Compensation (Tables)

12 Months Ended

Jan. 31, 2019

A summary of stock option activity follows:


		Weighted
		Average			Remaining	Aggregate
	Options	Exercise Price			Life in Years	intrinsic value
Outstanding as of February 1, 2018	2,173,156	$	3.42
Granted	47,000		1.68
Exercised	(50,694)		1.18
Expired	(201,469)		2.55
Forfeited	(387,336)		3.61
Outstanding as of January 31, 2019	1,580,657	$	3.50	(1)	6.13	$	15,000
Exercisable as of January 31, 2019	1,401,435	$	3.73	(2)	5.91	$	8,000
Vested or expected to vest as of January 31, 2019	1,542,516	$	3.54		6.09	$	14,000

(1)

The exercise prices range from $1.10 to $8.10, of which 440,000 shares are between $1.10 and $2.00 per share, 362,240 shares are between $2.19 and $4.00 per share, and 778,417 shares are between $4.02 and $8.10 per share.

(2)

The exercise prices range from $1.18 to $8.10, of which 280,778 shares are between $1.18 and $2.00 per share, 362,240 shares are between $2.19 and $4.00 per share, and 758,417 shares are between $4.02 and $8.10 per share.

Schedule of Weighted-Average Assumptions

The fiscal 2018 and 2017 stock-based compensation was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted average assumptions for each fiscal year:


	2018		2017
Expected life	6	years	6	years
Risk-free interest rate	2.89	%	2.65	%
Weighted average volatility factor	0.65		0.65
Dividend yield	—		—
Forfeiture rate	20	%	13	%

Schedule of Restricted Stock Award Activity

A summary of restricted stock award activity for fiscal 2018 and 2017 is presented below:


		Weighted
	Non-vested	Average
	Number of	Grant Date
	Shares	Fair Value
Non-vested balance at January 31, 2017	858,225	$	1.59
Granted	295,337		1.17
Vested	(331,975)		1.47
Forfeited	—		—
Non-vested balance at January 31, 2018	821,587	$	1.59
Granted	826,666		1.15
Vested	(453,537)		1.34
Forfeited	(130,850)		1.61
Non-vested balance at January 31, 2019	1,063,866	$	1.27