Stockholders' Deficit

3 Months Ended

Apr. 30, 2019

Equity [Abstract]

Stockholders' Deficit

Note 9 - Stockholders’ Deficit

(A) Options

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

	Options		Weighted Average Exercise Price
Outstanding – January 31, 2019		649,000	$	0.77
Exercisable – January 31, 2019		521,500	$	0.71
Granted		7,500	$	0.74
Exercised		-	$	-
Forfeited/Cancelled		-	$	-
Outstanding – April 30, 2019		656,500	$	0.77
Exercisable – April 30, 2019		556,500	$	0.72

		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 – 1.38		656,000		2.62	$	0.77		556,500	$	0.72

At April 30, 2019 the total intrinsic value of options outstanding and exercisable was $76,187 and $76,187, respectively.

During the three months ended April 30, 2018, 40,000 options were exercised by the option holders. The Company issued 40,000 shares of common stock as a result of this exercise and received proceeds of $40,000. No options were exercised during the three months ended April 30, 2019.

For the three months ended April 30, 2019 and 2018, the Company recognized share-based compensation related to options of an aggregate of $17,257 and $42,218, respectively. At April 30, 2019, unrecognized share-based compensation was $13,708.

(B) Warrants

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

	Warrants		Weighted Average Exercise Price
Outstanding – January 31, 2019		6,245,331	$	1.04
Exercisable – January 31, 2019		6,245,331	$	1.04
Granted		-	$	-
Exercised		-	$	-
Forfeited/Cancelled		-	$	-
Outstanding – April 30, 2019		6,245,331	$	1.04
Exercisable – April 30, 2019		6,245,331	$	1.04

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		6,245,331		1.58	$	1.04		6,245,331	$	1.04

At April 30, 2019, the total intrinsic value of warrants outstanding and exercisable was $86,320 and $86,320, respectively.

During the three months ended April 30, 2019, no warrants were exercised by the warrant holders.

During the three months ended April 30, 2018, 120,430 warrants were exercised by the warrant holders on a cashless basis. The Company issued 30,556 shares of common stock as a result of this exercise.