INCOME TAXES	3 Months Ended
Apr. 30, 2020
INCOME TAXES
INCOME TAXES	8. INCOME TAXES The Company evaluates its ability to recover deferred tax assets, in full or in part, by considering all available positive and negative evidence, including past operating results and its forecast of future taxable income on a jurisdictional basis. The Company bases its estimate of current and deferred taxes on the tax laws and rates that are currently in effect in the appropriate jurisdiction. Changes in laws or rates may affect the tax provision as well as the amount of deferred tax assets or liabilities. Current tax laws impose substantial restrictions on the utilization of net operating loss (“NOL”) and credit carryforwards in the event of an “ownership change,” as defined by the Internal Revenue Code. If there should be an ownership change, the Company’s ability to utilize its carry-forwards could be limited. Although the Company has not conducted a formal NOL carryforward analysis, as a result of the registered direct offering in March 2019, ownership change resulting from the Merger and prior financing transactions, the NOL and credit carryforwards amounts may be materially limited. As of April 30, 2020 and January 31, 2020, the Company has not recorded any liability for unrecognized tax benefits related to uncertain tax positions. The 2010 to 2020 tax years remain open for examination by the federal and state authorities.

8. INCOME TAXES

The Company evaluates its ability to recover deferred tax assets, in full or in part, by considering all available positive and negative evidence, including past operating results and its forecast of future taxable income on a jurisdictional basis. The Company bases its estimate of current and deferred taxes on the tax laws and rates that are currently in effect in the appropriate jurisdiction. Changes in laws or rates may affect the tax provision as well as the amount of deferred tax assets or liabilities.

Current tax laws impose substantial restrictions on the utilization of net operating loss (“NOL”) and credit carryforwards in the event of an “ownership change,” as defined by the Internal Revenue Code. If there should be an ownership change, the Company’s ability to utilize its carry-forwards could be limited. Although the Company has not conducted a formal NOL carryforward analysis, as a result of the registered direct offering in March 2019, ownership change resulting from the Merger and prior financing transactions, the NOL and credit carryforwards amounts may be materially limited.

As of April 30, 2020 and January 31, 2020, the Company has not recorded any liability for unrecognized tax benefits related to uncertain tax positions. The 2010 to 2020 tax years remain open for examination by the federal and state authorities.