Stockholders' Deficit

6 Months Ended

Jul. 31, 2018

Equity [Abstract]

Stockholders' Deficit

Note 10 - Stockholders’ Deficit

(A) Options

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

	Options			Weighted Average Exercise Price
Outstanding – January 31, 2018		866,000		$	0.87
Exercisable – January 31, 2018		699,000		$	0.78
Granted		30,000		$	1.21
Exercised		(40,000	)	$	1.00
Forfeited/Cancelled		(218,000	)	$	-
Outstanding – July 31, 2018		638,000		$	0.79
Exercisable – July 31, 2018		532,000		$	0.68

		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		638,000	2.64 years	$	0.79		532,000	$	0.68

At July 31, 2018 the total intrinsic value of options outstanding and exercisable was $134,670.

For the six months ended July 31, 2018 and 2017, the Company recognized share-based compensation related to options of an aggregate of $79,163 and $8,999, respectively. At July 31, 2018, unrecognized share-based compensation was $62,345.

(D) Warrants

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

	Warrants			Weighted Average Exercise Price
Outstanding – January 31, 2018		7,061,399		$	1.06
Exercisable – January 31, 2018		7,061,399		$	1.06
Granted		-		$	-
Exercised		(467,496	)	$	1.00
Forfeited/Cancelled		(15,238	)	$	-
Outstanding – July 31, 2018		6,578,665		$	1.06
Exercisable – July 31, 2018		6,578,665		$	1.06

Warrants Outstanding						Warrants Exercisable
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		6,578,665		2.22 years	$	1.06		6,578,665	$	1.06

At July 31, 2018, the total intrinsic value of warrants outstanding and exercisable was $468,000 and $468,000, respectively.

During the six months ended July 31, 2018, 467,496 warrants were exercised by the warrant holders on a cashless basis. The Company issued 72,804 shares of common stock as a result of this exercise.