Stockholders' Equity (Tables)

3 Months Ended

Apr. 30, 2020

Stockholders' equity

Schedule of nonvested share activity

	Number of shares awarded total
	Minimum		Target		Maximum		Cap
Employees		17,834		26,753		35,670		42,805
Non-Employee Directors		7,168		10,752		14,336		17,204
Total		25,002		37,505		50,006		60,009

	Value at grant date
	Minimum		Target		Maximum		Cap
Employees	$	248,800	$	373,200	$	497,600	$	597,120
Non-Employee Directors		100,000		150,000		200,000		240,000
Total	$	348,800	$	523,200	$	697,600	$	837,120

Granted December 4, 2019 and April 9, 2020

	Number of shares awarded total
	Minimum		Target		Maximum
Employees		78,004		120,006		144,009
Non-Employee Directors		27,664		42,560		51,072
Total		105,668		162,566		195,081

	Value at grant date
	Minimum		Target		Maximum
Employees	$	943,570	$	1,451,600	$	1,741,920
Non-Employee Directors		338,000		520,000		624,000
Total	$	1,281,570	$	1,971,600	$	2,365,920

Schedule of share-based compensation

	Three Months Ended April 30,
	2020		2019
2017 Plan:
Restricted Stock Program	$	149,539	$	201,829
Stock Options		14,347		-----
	$	163,886	$	201,829
Stock appreciation rights		-----		(121	)
Total stock-based compensation	$	163,886	$	201,708
Total income tax benefit recognized for stock-based compensation arrangement	$	34,416	$	42,359

Schedule of restricted stock units award activity

	Performance-Based		Service-Based		Total		Weighted Average Grant Date Fair Value
Outstanding at January 31, 2020		109,234		9,930		119,164	$	10.33
Awarded		69,591		6,326		75,917	$	14.95
Vested		-----		-----		-----		-----
Forfeited		-----		-----		-----		-----
Outstanding at April 30, 2020		178,825		16,256		195,081	$	12.13

Schedule of stock option activity

Shares issued under 2017 Plan	Outstanding Unvested Grants at Maximum at Beginning of FY21		Granted during FY21		Becoming Vested during FY21		Forfeited during FY21		Outstanding Unvested Grants at Maximum at End of April 30, FY21
Restricted stock grants – employees		35,670		-----		-----		-----		35,670
Restricted stock grants – non-employee directors		14,336		-----		-----		-----		14,336
Total restricted stock		50,006		-----		-----		-----		50,006
Weighted average grant date fair value	$	13.95	$	-----	$	-----	$	-----	$	13.95

Assumptions used to calculate the fair value of the options granted

Stock Options	Number of Shares		Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at January 31, 2020		24,900	$	11.17		9.53	$	-----
Granted		-----		-----		-----		-----
Outstanding at April 30, 2020		24,900	$	11.17		9.29		-----
Exercisable at April 30, 2020		-----	$	-----		-----	$	-----