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Accounting For Share-Based Payments
 3 Months Ended
Apr. 29, 2017
ACCOUNTING FOR SHARE-BASED PAYMENTS [Abstract]  
Accounting for Share-Based Payments
ACCOUNTING FOR SHARE-BASED PAYMENTS
The 2010 Equity Incentive Plan (the “2010 Plan”) provides for equity-based awards to the Company’s employees, directors and consultants. Under the 2010 Plan, the Company initially reserved 1,000,000 shares of common stock for issuance. This number automatically increases on the first trading day of each fiscal year beginning with fiscal 2011, by an amount equal to 1.5% of the shares of common stock outstanding as of the last trading day of the immediately preceding fiscal year; accordingly, 2,426,711 shares of common stock were reserved for issuance as of April 29, 2017. The Company previously had two stock option plans which expired on October 31, 2010. No further awards will be granted under these plans, although all options previously granted and outstanding will remain outstanding until they are either exercised or forfeited. As of April 29, 2017, 1,059,252 stock options have been granted pursuant to the 2010 Plan.
The following is a summary of the stock option activity during the thirteen weeks ended April 29, 2017:
 
 
Number of
Shares
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of January 28, 2017
1,184,000

 
$
6.07

 

 


Granted
—

 
—

 

 

Exercised
—

 
—

 

 


Forfeited
(100,000
)
 
7.70

 

 


Outstanding as of April 29, 2017
1,084,000

 
$
5.92

 
6.9
 
$
—

Vested and expected to vest as of April 29, 2017
709,834

 
$
7.79

 
6.9
 
$
—

Exercisable as of April 29, 2017
709,834

 
$
7.79

 
6.9
 
$
—



The following is a summary of stock warrants activity during the thirteen weeks ended April 29, 2017:
 
Number of
Warrants
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Contractual
Life
 
Aggregate
Intrinsic
Value
(in thousands)
Outstanding as of January 28, 2017
6,299,971

 
$
11.80

 

 


Granted
—

 
—

 

 

Exercised
—

 
—

 

 


Forfeited
(2,133,332
)
 
8.00

 

 


Outstanding as of April 29, 2017
4,166,639

 
$
13.74

 
1.8
 
$
—

Vested and expected to vest as of April 29, 2017
4,166,639

 
$
13.74

 
1.8
 
$
—

Exercisable as of April 29, 2017
4,166,639

 
$
13.74

 
1.8
 
$
—



Share-based compensation expense was less than $0.1 million during each of the thirteen-week periods ended April 29, 2017 and April 30, 2016.