Summary of Significant Accounting Policies (Tables)

3 Months Ended

Apr. 30, 2024

Accounting Policies [Abstract]

Schedule of Inventories

Inventories by major category are as follows (in thousands):

	April 30, 2024		January 31, 2024
Raw materials and packaging	$	1,293	$	1,159
Work in process	217		237
Finished goods	1,507		1,914
Total	$	3,017	$	3,310

Schedule of Asset Lives

Asset lives for financial statement reporting of depreciation expense are:

Machinery and equipment	2-7 years
Furniture and fixtures	3-5 years
Leasehold improvements	*

(*)Amortized on a straight-line basis over the shorter of remaining lease term at the time the asset was placed in service or their estimated useful lives.

Schedule of Other Intangible Assets

Other intangible assets consist of trademarks, trade names and customer relationships. Intangible asset lives for financial statement reporting of amortization are:

Tradenames and trademarks	3 years
Customer relationships	4 – 5 years

Schedule of Expenses of Slotting Fees, Sales Discounts, and Allowances

Expenses such as slotting fees, sales discounts, and allowances are accounted for as a direct reduction of revenues as follows (in thousands):

	For the Three Months Ended
	April 30, 2024		April 30, 2023
Gross Sales	$	30,398	$	23,600
Less: Slotting Fees, Discounts & Allowances	560		479
Net Sales	$	29,838	$	23,121

Schedule of Disaggregates Gross Revenue by Significant Geographic Area

The following table disaggregates gross revenue by significant geographic area for the three months ended April 30, 2024 and 2023 (in thousands):

	For the Three Months Ended
	April 30, 2024		April 30, 2023
Northeast	$	9,567	$	8,566
Southeast	7,697		6,695
Midwest	6,384		4,267
West	6,750		4,072
Total gross sales	$	30,398	$	23,600

Reconciliation of Basic and Diluted Earnings Per Share to Net Income

The following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net income attributable to common stockholders per common share (in thousands, except per share data):

	For the Three Months Ended
	April 30, 2024		April 30, 2023
Numerator:
Net income attributable to common stockholders	$	553	1,374
Effect of dilutive securities:	-		27
Diluted net income	$	553	$	1,401
Denominator:
Weighted average common shares outstanding – basic	37,259		36,394
Dilutive securities (a):
Series B Preferred stock	0		819
Restricted stock	351		135
Performance stock awards	1,650		0
Options	68		278
Weighted average common shares outstanding and assumed conversion – diluted	39,328		37,626
Basic net income per common share	$	0.01	$	0.04
Diluted net income per common share	$	0.01	$	0.04
(a) – Anti-dilutive securities excluded:
Warrants	-		14