Note 15 - Treasury Stock

9 Months Ended

Oct. 31, 2022

Notes to Financial Statements

Treasury Stock [Text Block]

Note 15 - Treasury stock

The stock repurchase program, which was approved by the Company's Board of Directors on  October 4, 2021, expired on October 3, 2022. The repurchase program authorized the Company to use up to $3.0 million for the purchase of its outstanding shares of common stock. Stock repurchases were 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. In total, the Company used $2.0 million of the $3.0 million authorized to repurchase its outstanding shares of common stock under the program. There were no purchases of shares of the Company's common stock made by or on behalf of the Company during the three months ended October 31, 2022. On  July 26, 2022, the Company retired all treasury stock previously repurchased under the 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.

The following table sets forth information with respect to repurchases by the Company of its shares of common stock during the program (In thousands, except per share data):

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
October 1, 2021 - October 31, 2021		59	$	8.45		59	$	2,505
November 1, 2021 - November 30, 2021		21		8.55		21		2,323
December 1, 2021 - December 31, 2021		56		7.99		56		1,872
January 1, 2022 - January 31, 2022		98		8.81		98		1,008
July 1, 2022 - July 31, 2022		5		8.85		5		964
Total		239				239