INTANGIBLES, PREPAID BANK FEES AND OTHER ASSETS, NET

12 Months Ended

Jan. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Intangible And Other Assets Net And Goodwill Impairment [Text Block]

4. INTANGIBLES, PREPAID BANK FEES AND OTHER ASSETS, NET

Intangible assets consist of the following at January 31, 2016 and January 31, 2015:

	2016		2015
Bank fees net of accumulated amortization of $569,427 at 2016 and $389,167 at 2015	$	94,945	$	171,237
Restated for discontinued operations.

Amortization expense included in general and administrative expense was $101,291and $355,938 for FY16 and FY15, respectively.

Amortization expense for the next five years is as follows: Bank fees: $94,945 for FY17.

Goodwill

On August 1, 2005, the Company purchased Mifflin Valley, Inc., a Pennsylvania manufacturer, the operations of which now comprise the Company’s Reflective division. This acquisition resulted in the recording of $0.9 million in goodwill in FY06. The Company believes that there was no impairment of goodwill as of January 31, 2016. This goodwill is included in the US segment for reporting purposes.