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Stockholders' Equity (Tables)

3 Months Ended

Apr. 30, 2017

Equity [Abstract]

Summary of Option Activity

The following is a summary of the Company’s option activity:

		Options				Weighted Average Exercise Price

Outstanding – January 31, 2017			881,404			$	0.78
Exercisable – January 31, 2017			799,404			$	0.78
Granted			-			$	-
Exercised			-			$	-
Forfeited/Cancelled			(229,404	)		$	1.00
Outstanding – April 30, 2017			652,000			$	0.71
Exercisable – April 30, 2017			576,000			$	0.80

Summary of Option Outstanding and Exercisable

	Options Outstanding								Options Exercisable
	Exercise Price			Number Outstanding			Weighted Average Remaining Contractual Life (in years)			Weighted Average Exercise Price				Number Exercisable				Weighted Average Exercise Price

$	0.39 – 2.97			652,000			2.76 years		$	0.71				576,000			$	0.80

Schedule of Warrants Activity

The following is a summary of the Company’s warrant activity:

		Warrants				Weighted Average Exercise Price

Outstanding – January 31, 2017			7,311,770			$	1.04
Exercisable – January 31, 2017			7,311,770			$	1.04
Granted			-			$	-
Exercised			-			$	-
Forfeited/Cancelled			(150,000	)		$	1.00
Outstanding – April 30, 2017			7,161,770			$	1.05
Exercisable – April 30, 2017			7,161,770			$	1.05

Schedule of Warrants Outstanding and Exercisable

	Warrants Outstanding												Warrants Exercisable
	Range of Exercise Price			Number Outstanding			Weighted Average Remaining Contractual Life (in years)			Weighted Average Exercise Price			Number Exercisable			Weighted Average Exercise Price

$	0.68-$2.50			7,161,770			3.31 years		$	1.05			7,161,770		$	1.05

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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