Note 10 - Related Party Transaction

6 Months Ended

Jul. 31, 2025

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

10. Related Party Transaction

In February 2025, the Company retained Lucid Capital Markets, LLC (“Lucid”) to provide advisor and arrangement services for investigation and analysis of opportunities for growth and additional scale. Lucid received $100,000 in retainer fees for such potential services. The Vice Chairman of Lucid is the Non-Executive Chairman of the Company's board of directors (the "Board"). Our Non-Executive Chairman of the Board received no portion of the above-mentioned compensation.

On August 28, 2025, the Company entered into an equity distribution agreement (the “Sales Agreement”) with Lucid (the “Agent”), pursuant to which the Company may offer and sell up to $25.0 million of shares (the “Shares”) of the Company’s common stock, par value $0.01 per share, through an at-the-market (“ATM”) offering program administered by the Agent. Under the Sales Agreement, the Agent will be entitled to compensation of up to 2.0% of the gross proceeds from the sale of the Shares sold through the Agent from time to time pursuant to the terms of the Sales Agreement. The Company has no obligation to sell any of the Shares under the Sales Agreement and may suspend solicitations and offers under the Sales Agreement at any time. To date, we have not sold Shares under the ATM. The Non-Executive Chairman of the Board will receive no portion of the compensation paid to the Agent.