Stockholders’ Equity

3 Months Ended

Apr. 30, 2022

Equity [Abstract]

Stockholders’ Equity

Note 9 - Stockholders’ Equity

Options

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

	Options			Weighted Average Exercise Price
Outstanding – January 31, 2022		669,000		$	0.66
Exercisable – January 31, 2022		666,500		$	0.65
Granted		-		$	-
Exercised		(30,000	)	$	0.94
Outstanding – April 30, 2022		639,000		$	0.65
Exercisable – April 30, 2022		639,000		$	0.65

		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		639,000		1.56	$	0.65		639,000	$	0.65

At April 30, 2022, the total intrinsic value of options outstanding and exercisable was $704,450 and $704,450, respectively.

During the three months ended April 30, 2022, the CFO exercised 30,000 options at an average exercise price of $0.94 per share on a cashless basis in exchange for 15,676 shares of common stock.

During the three months ended April 30, 2021, six employees exercised a total of 84,000 options at an average exercise price of $0.86 per share for aggregate proceeds of $19,080.

For the three months ended April 30, 2022 and 2021, the Company recognized share-based compensation related to options of an aggregate of $0 and $501, respectively. At April 30, 2022, there was no unrecognized share-based compensation.