Note 14 - Treasury Stock

6 Months Ended

Jul. 31, 2022

Notes to Financial Statements

Treasury Stock [Text Block]

Note 14 - Treasury stock

On  October 4, 2021, the Company's Board of Directors approved a stock repurchase program, which authorizes the Company to use up to $3.0 million for the purchase of its outstanding shares of common stock. Stock repurchases are permitted to be executed through open market or privately negotiated transactions over the course of 12 months, depending upon current market conditions and other factors. As of July 31, 2022, the Company has used $2.0 million of the $3.0 million authorized to repurchase its outstanding shares of common stock.

The following table sets forth information with respect to repurchases by the Company of its shares of common stock during the three months ended July 31, 2022:

Period	Total number of shares purchased		Average price paid per share		Total number of shares purchased as part of publicly announced plans or programs		Approximate dollar value of shares that may yet be purchased under the plans or programs
May 1, 2022 - May 31, 2022		-		-		-		1,008,444
June 1, 2022 - June 30, 2022		-		-		-		1,008,444
July 1, 2022 - July 31, 2022		4,887		8.85		4,887		964,496
Total		4,887				4,887

On  July 26, 2022, the Company retired all treasury stock previously repurchased under this stock repurchase program. The retirement was recorded as a reduction to common stock based on the par value of the shares, and the excess over par value was recorded as an increase to accumulated deficit in accordance with ASC 505-30, Equity -Treasury Stock.