Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jul. 31, 2016 | Sep. 15, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | Comarco Inc | |
Entity Central Index Key | 22,252 | |
Trading Symbol | cmro | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 14,644,165 | |
Document Type | 10-Q | |
Document Period End Date | Jul. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jul. 31, 2016 | Jan. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 1,134,000 | $ 680,000 |
Accounts receivable due from suppliers, net of reserves of $0 | 122,000 | |
Other current assets | 63,000 | 41,000 |
Total current assets | 1,197,000 | 843,000 |
Property and equipment, net | 2,000 | |
Restricted cash | 77,000 | 77,000 |
Total assets | 1,274,000 | 922,000 |
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
Accounts payable | 127,000 | 883,000 |
Accrued liabilities | 325,000 | 687,000 |
Total current liabilities | 452,000 | 1,570,000 |
Total liabilities | 452,000 | 1,570,000 |
Commitments and Contingencies | ||
Stockholders' Equity (Deficit): | ||
Preferred stock, no par value, 10,000,000 shares authorized; no shares issued or outstanding | 0 | 0 |
Common stock, $0.10 par value, 50,625,000 shares authorized; 14,644,165 shares issued and outstanding at July 31, 2016 and January 31, 2016 | 1,464,000 | 1,464,000 |
Additional paid-in capital | 18,385,000 | 18,367,000 |
Accumulated deficit | (19,027,000) | (20,479,000) |
Total stockholders' equity (deficit) | 822,000 | (648,000) |
Total liabilities and stockholders' equity (deficit) | $ 1,274,000 | $ 922,000 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jul. 31, 2016 | Jan. 31, 2016 |
Accounts receivable due from suppliers, net of reserves | $ 0 | |
Preferred Stock, Par Value (in dollars per share) | $ 0 | $ 0 |
Preferred Stock Shares Authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, Shares Issued (in shares) | 0 | 0 |
Preferred Stock, Shares Outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Common stock, shares authorized (in shares) | 50,625,000 | 50,625,000 |
Common stock, shares issued (in shares) | 14,644,165 | 14,644,165 |
Common stock, shares outstanding (in shares) | 14,644,165 | 14,644,165 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Revenue | ||||
Cost of revenue | (472) | (472) | ||
Gross profit | 472 | 472 | ||
Selling, general and administrative expenses | 280 | 242 | 464 | 553 |
Engineering and support expenses | 80 | 48 | 260 | 48 |
360 | 290 | 724 | 601 | |
Operating income (loss) | 112 | (290) | (252) | (601) |
Other income, net | 16 | 25 | 1,704 | 25 |
Income (loss) from operations before income taxes | 128 | (265) | 1,452 | (576) |
Income tax expense | ||||
Net income (loss) | $ 128 | $ (265) | $ 1,452 | $ (576) |
Basic net income (loss) per share (in dollars per share) | $ 0.01 | $ (0.02) | $ 0.10 | $ (0.04) |
Diluted net income (loss) per share (in dollars per share) | $ 0.01 | $ (0.02) | $ 0.10 | $ (0.04) |
Weighted-average shares outstanding: | ||||
Weighted-average shares outstanding-Basic (in shares) | 14,644 | 14,644 | 14,644 | 14,659 |
Diluted (in shares) | 14,644 | 14,644 | 14,644 | 14,659 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jul. 31, 2016 | Jul. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 1,452,000 | $ (576,000) |
Adjustments to reconcile net income (loss) net cash used in operating activities: | ||
Depreciation and amortization | 2,000 | 3,000 |
Stock-based compensation expense | 18,000 | 16,000 |
Accounts receivable due from suppliers | 122,000 | |
Other assets | (22,000) | (64,000) |
Increase (Decrease) in Accounts Payable | (756,000) | (3,000) |
Accrued liabilities | (362,000) | (101,000) |
Income taxes payable | (40,000) | |
Net cash provided by (used in) operating activities | 454,000 | (765,000) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Restricted cash | (77,000) | |
Net cash used in investing activites | (77,000) | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net cash used in financing activities | ||
Net increase (decrease) in cash and cash equivalents | 454,000 | (842,000) |
Cash and cash equivalents, beginning of period | 680,000 | 2,140,000 |
Cash and cash equivalents, end of period | 1,134,000 | 1,298,000 |
Supplementary disclosures of cash flow information: | ||
Cash paid for interest | ||
Cash paid for income taxes, net of refunds | $ 40,000 |
Note 1 - Organization
Note 1 - Organization | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Organization Comarco, Inc. was incorporated in California in 1960 and its common stock has been publicly traded since 1971, when it was spun-off from Genge Industries, Inc. Comarco Inc.’s wholly-owned subsidiary, Comarco Wireless Technologies, Inc. (“CWT”), was incorporated in the state of Delaware in September 1993. Comarco and CWT are collectively referred to as “we,” “us,” “our,” “Comarco,” or the “Company”. |
Note 2 - Current Developments,
Note 2 - Current Developments, Future Operations, Liquidity and Capital Resources | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Going Concern [Text Block] | 2. Current Developments, Future Operations, Liquidity and Capital Resources The condensed consolidated financial statements have been prepared assuming that we will continue to operate as a going concern, which contemplates that we will realize returns on our assets and satisfy our liabilities and commitments in the ordinary course of business. Our condensed consolidated financial statements do not reflect any adjustments related to the uncertainty of this outcome. As discussed elsewhere in this report, we are currently generating no revenues and have ceased traditional operations. Our future is highly dependent on our ability to successfully resolve our current and future litigation, monetize our portfolio of patents, generate positive cash flows and/or obtain borrowings or raise capital to meet our liquidity needs. We are primarily focused on potentially realizing value from our ongoing IP enforcement actions and other litigation as well as exploring opportunities to further expand, protect, and monetize our patent portfolio, including through the potential sale or licensing our patent portfolio. On March 10, 2014, we filed a lawsuit in federal court against Targus Group International, Inc. (“Targus”) for patent infringement, breach of contract, intentional interference with contract, violation of business and professional codes, misrepresentation and fraudulent concealment. On March 26, 2016, we entered into a confidential settlement and license agreement with Targus that resolved all claims arising from the aforementioned litigation. Pursuant to the terms of the settlement agreement, we granted Targus a world-wide license to make, use, sell and distribute Licensed Products (as defined below), as well as a sublicense to have Licensed Products manufactured by third parties solely for the benefit of and sale to Targus. In addition, we granted Targus, for a limited number of units, the right to make, use, sell and distribute Licensed Products for third-party original equipment manufacturers (“OEMs”). “Licensed Products” means any power adaptor or power supply incorporating patents or other intellectual property owned or licensed by us. In exchange for the license granted under the settlement agreement, Targus paid us a one-time, lump-sum payment on April 1, 2016, plus the possibility of future per-unit royalty payments if Targus exceeds the limit on Licensed Products that Targus may sell to OEMs under the settlement agreement. We have been granted confidential treatment from the Securities and Exchange Commission (“SEC”) related to the one-time payment, the calculation of royalty payments and the OEM unit limit pursuant to aconfidential treatment request filed by us with the SEC. Two of our other recent litigation matters have also concluded. In the Chicony Power Technology, Co. Ltd., (“Chicony”) matter, effective as of May 15, 2014, Chicony entered into a settlement agreement with us that dismissed all claims between us and Chicony arising from the litigation. Pursuant to the terms of the settlement agreement, Chicony agreed to pay us $7.6 million, which was paid in May 2014. Of the $7.6 million, we retained $6.5 million, after distributing $1.1 million in attorneys’ fees and other costs. In connection with the settlement, certain contract manufacturer costs payable to Chicony totaling $1.1 million were discharged and reflected as a reduction of cost of revenues. In our litigation with ACCO Brands USA LLC and its Kensington Computer Products Group division (collectively “Kensington”), on February 4, 2014, we entered into a confidential settlement and licensing agreement with an effective date of February 1, 2014 that established a forward royalty program and dismissed all claims between the two parties arising from this matter. On February 3, 2015, we filed a lawsuit against Apple, Inc. (“Apple”) for patent infringement. The complaint alleges that Apple products sold in the United States utilizing the Apple Lightning® power supply adapter system, including most iPad®, iPhone®, and iPod® products, infringe our patented intellectual property. This lawsuit represents our most significant enforcement effort to date, and demonstrates our ongoing and accelerated efforts to methodically pursue those companies that we believe have infringed on the intellectual property estate that we have developed over the last 20 years. We intend to vigorously pursue our rights in this case, although the outcome of this matter is not determinable as of the date of this report. On February 13, 2015, we filed a lawsuit against Best Buy Co., Inc. (“Best Buy”) for patent infringement under the patent laws of the United States. The complaint alleges that certain Best Buy power charging products sold in the United States under the Rocketfish brand infringe our patented intellectual property. We intend to vigorously pursue our rights in this case, although the outcome of this matter is not determinable as of the date of this report. We believe that our patent portfolio covering key technical aspects of our products could potentially generate a future revenue stream based upon royalties paid to us by others for the use of some or all of our patents in third party products. We continue to explore opportunities to expand, protect, and monetize our patent portfolio, including through the sale or licensing of our patent portfolio. We may or may not resume our traditional activities of producing innovative charging solutions for battery powered devices. There are no assurances that any of these potential opportunities or activities will occur or be successful. We had working capital of approximately $0.7 million as of July 31, 2016, which includes liabilities related to the remaining balance owed to our former counsel Pillsbury Winthrop Shaw Pittman, LLP (“Pillsbury”). The $0.1 million remaining balance due to Pillsbury will be paid, if at all, in the event we obtain any monetary recovery, whether through settlement, judgment or otherwise, from or as a result of any of our current or future lawsuits related to our intellectual property (see Note 6). During the quarter ended April 30, 2016, we paid Pillsbury approximately $0.4 million as a result of the Settlement Agreement with Targus and owe a balance of approximately $0.1 million. During the quarter ended July 31, 2016, we wrote off receivables of $0.1 million from and liabilties of $0.6 million to Zheng Ge as the statute of limitation on the related contracts has lapsed. Because of the contingent nature of our liability to Pillsbury, we believe that our working capital will allow us to discharge non-contingent liability in the normal course of business over the next twelve months. We are currently generating no revenues and have ceased traditional operations. Our future is highly dependent on our ability to successfully resolve our current litigation, capitalize on our portfolio of patents, generate positive cash flows and/or obtain borrowings or raise capital to meet our future liquidity needs. We have and will continue to analyze alternatives to build and/or preserve value for our stakeholders, including, but not limited to, exploring additional investment and incremental financing from current and/or new investors, the engagement of advisors to assist in exploring strategic options for us as well as identifying potential partnerships for the purpose of monetizing some or all of the our patent portfolio and past, present, and future infringement claims. However, there can be no assurances that we will be successful in identifying and/or implementing any of these alternatives, or if implemented, that any of these alternatives will successfully preserve or increase shareholder value. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. Summary of Significant Accounting Policies The summary of our significant accounting policies presented below is designed to assist the reader in understanding our condensed consolidated financial statements. Basis of Presentation The accompanying condensed consolidated balance sheet as of July 31, 2016, which has been derived from our audited financial statements, and our unaudited interim condensed consolidated financial statements as of July 31, 2016 included herein have been prepared without audit in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The Company believes that the disclosures are adequate to make the information presented not misleading when read in conjunction with the audited consolidated financial statements included in the Company’s annual report on Form 10-K for its fiscal year ended January 31, 2016 (the “2016 Form 10-K”), which was filed with the SEC on April 30, 2016. The accounting policies followed by the Company are set forth in Note 2 to the Company’s audited financial statements included in the 2016 Form 10-K. The unaudited interim condensed consolidated financial information presented herein reflects all adjustments, consisting only of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of the consolidated results for the interim periods presented. The consolidated results for the three and six months ended July 31, 2016 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2017. Principles of Consolidation The unaudited interim condensed consolidated financial statements of the Company include the accounts of Comarco, Inc. and CWT, its wholly owned subsidiary. All material intercompany balances, transactions, and profits and losses have been eliminated. Cash and Cash Equivalents All highly liquid investments with original maturity dates of three months or less when acquired are classified as cash and cash equivalents. The fair value of cash and cash equivalents approximates the amounts shown in the consolidated financial statements. Cash and cash equivalents are generally maintained in uninsured accounts, which are subject to investment risk including possible loss of Restricted Cash Our restricted cash balances are secured by separate bank accounts and represent a $77,000 letter of credit that serves as the security deposit for our corporate office lease that was our previous headquarters, which we are subletting to a third party. The lease for the former headquarter facility, as well as our sublease to the third party expired on August 31, 2016. Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the periods reported. Actual results could materially differ from those estimates. Certain accounting principles require subjective and complex judgments to be used in the preparation of financial statements. Accordingly, a different financial presentation could result depending on the judgments, estimates, or assumptions that are used. Such estimates and assumptions include, but are not specifically limited to, those required in the assessment of the impairment of long-lived assets, valuation allowances for deferred tax assets, valuation of derivative liabilities and determination of stock-based compensation. Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, accounts receivable due from customers and suppliers, accounts payable and accrued liabilities. The carrying amount of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments. Legal expense classification Our legal expenses are classified in either selling, general, and administrative expenses or engineering and support expenses depending on the nature of the legal expense. All legal expenses incurred related to our intellectual property, including associated litigation expense and maintenance of our patent portfolio, are included in engineering and support expenses in our consolidated statement of operations. All other legal expenses, including all other litigation expense and public company legal expense, are included in selling, general, and administrative expenses in our condensed consolidated statement of operations. Income tax expense Significant management judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities and any required valuation allowance. We continue to maintain a full valuation allowance on the entire deferred tax asset balance. This valuation allowance was established based on management’s overall assessment of risks and uncertainties related to our future ability to realize, and hence, utilize certain deferred tax assets, primarily consisting of net operating loss carry forwards and temporary differences. Due to the current and prior years’ operating losses, the adjusted net deferred tax assets remained fully reserved as of July 31, 2016. |
Note 4 - Stock-based Compensati
Note 4 - Stock-based Compensation | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 4. Stock-Based Compensation We grant stock awards for a fixed number of shares to employees, consultants, and directors pursuant to the our shareholder-approved equity incentive plans. We account for stock-based compensation using the modified prospective method, which requires measurement of compensation cost for all stock awards at fair value on date of grant and recognition of compensation over the service period for awards expected to vest. The fair value of stock options is determined using a Lattice Binomial model for options with performance-based vesting tied to our stock price and the Black-Scholes valuation model for options with ratable term vesting. Both the Lattice Binomial and Black-Scholes valuation models require the input of subjective assumptions. These assumptions include estimating the length of time optionees will retain their vested stock options before exercising them (the “expected term”), the estimated volatility of our common stock price over the expected term, and the number of awards that will ultimately not complete their vesting requirements (“forfeitures”). Changes in these subjective assumptions can materially affect the estimate of fair value of stock-based compensation and, consequently, the related amount recognized as an expense on the consolidated statements of operations. As required under applicable accounting rules, we review our valuation assumptions at each grant date and, as a result, we are likely to change our valuation assumptions used to value stock-based awards granted in future periods. The values derived from using either the Lattice Binomial or the Black-Scholes model are recognized as an expense over the vesting period, net of estimated forfeitures. The estimation of stock awards that will ultimately vest requires significant judgment. Actual results, and future changes in estimates, may differ from our current estimates. The compensation expense recognized is summarized in the table below (in thousands except per share amounts): Three Months Ended Six Months Ended July 31, July 31, 2016 2015 2016 2015 Stock-based compensation expense $ 5 $ 9 $ 18 $ 16 Impact on basic and diluted earnings per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) There is no compensation cost related to nonvested awards yet to be recognized. During the three and six months ended July 31, 2016, no stock options and no restricted stock units were granted. During the three and six months ended July 31, 2015, 350,000 stock options were granted and no restricted stock units were granted. The fair value of the 350,000 options granted under our stock option plans during the six ended July 31, 2015 was estimated on the date of grant using the following weighted average assumptions: Six Months Ended July 31, 2015 Weighted average risk-free interest rate 2 % Expected life (in years) 10 Expected stock volatility 152 % Dividend yield - Expected forfeitures - Transactions and other information related to stock options granted under these plans for the six months ended July 31, 2016 are summarized below: Outstanding Options Weighted-Ave. Number of Exercise Shares Price Balance, January 31, 2016 950,000 $ 0.96 Options granted - - Options canceled or expired (246,192 ) 1.06 Options exercise - - Balance, July 31, 2016 703,808 $ 0.51 Stock Options Exercisable at July 31, 2016 663,808 $ 0.48 As of July 31, 2016, the stock awards outstanding have an aggregate intrinsic value of $0, based on a closing market price of $0.08 per share on July 31, 2016. The following table summarizes information about the Company’s stock awards outstanding at July 31, 2016: Awards Outstanding Options Exercisable Weighted-Ave. Range of Number Remaining Weighted-Ave. Number Weighted-Ave. Exercise/Grant Prices Outstanding Contractual Life Exercise/Grant Price Exercisable Exercise Price $0.14 - $0.16 203,808 8.88 $ 0.15 203,808 $ 0.15 $0.40 385,000 6.01 $ 0.40 385,000 $ 0.40 $1.09 100,000 2.28 $ 1.09 60,000 $ 1.09 $4.53 15,000 1.58 $ 4.53 15,000 $ 4.53 703,808 $ 0.51 663,808 $ 0.48 Shares available under the plans for future grants at July 31, 2016 totaled 219,724. |
Note 5 - Net Income (Loss) Per
Note 5 - Net Income (Loss) Per Share | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. Net Income (Loss) Per Share We calculate basic income (loss) per share by dividing net income (loss) by the weighted-average number of common shares outstanding during the reporting period. Diluted income (loss) per share reflects the effects of potentially dilutive securities. Because we incurred a net loss for the three and six months ended July 31, 2015, basic and diluted loss per share for this period was the same because the inclusion of dilutive potential common shares related to outstanding stock awards in the calculation would have been antidilutive. Potential common shares of 785,870 and 3,044,475 relating to outstanding stock awards to directors and our employee as well as stock purchase warrant to Broadwood, respectively have been excluded from diluted weighted average common shares for the three and six months ended July 31, 2015, respectively, as the effect would have been antidilutive. Potential common shares of 3,007,226 and 2,948,613 relating to outstanding stock awards to directors and our employee as well as stock purchase warrant to Broadwood, respectively, have been excluded from diluted weighted average common shares for the three and six months ended July 31, 2016, as the effect would have been antidilutive. The following table presents reconciliations of the numerators and denominators of the basic and diluted loss per share computations for net income (loss). In the tables below, “Net income (loss)” represents the numerator and “shares” represents the denominator (in thousands, except per share amounts): Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Net income (loss) $ 128 $ (265 ) $ 1,452 $ (576 ) Basic net income (loss) per share: Weighted-average shares outstanding-Basic 14,644 14,644 14,644 14,659 Basic net income (loss) per share $ 0.01 $ (0.02 ) $ 0.10 $ (0.04 ) Diluted net (loss) income per share: Weighted average shares outstanding - basic 14,644 14,644 14,644 14,659 Effect of potentially dilutive securities - - - - Weighted average shares outstanding - diluted 14,644 14,644 14,644 14,659 Diluted net income (loss) per share $ 0.01 $ (0.02 ) $ 0.10 $ (0.04 ) |
Note 6 - Supplier Concentration
Note 6 - Supplier Concentrations | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 6. Supplier Concentrations There was no supplier concentration from gross accounts receivables due from suppliers as of July 31, 2016. During Q2 fiscal 2017, we wrote off receivables of $0.1 million from and liabilties of $0.6 million to Zheng Ge as the statute of limitation on the related contracts has lapsed. The companies comprising 10 percent or more of our gross accounts payable at either July 31, 2016 and January 31, 2016 are listed below (in thousands, except percentages). As of July 31, As of January 31, 2016 2016 Total gross accounts payable $ 127 100 % $ 883 100 % Supplier concentration: Pillsbury Winthrop Shaw Pittman, LLP 62 49 % 432 49 % $ 62 49 % $ 432 49 % Pillsbury was our former legal counsel for the Kensington litigation as well as other patent and intellectual property matters (see Note 9). On May 28, 2014, we entered into an agreement with Pillsbury in which we paid Pillsbury a lump sum of $1.5 million with the remaining balance of $0.4 million (the “Balance”) to be paid, if at all, in the event we obtain any monetary recovery, whether through settlement, judgment or otherwise, after May 28, 2014 from or as a result of any of our current or future lawsuits related to our intellectual property. The amount payable was equal to the Balance plus 20% per annum, compounded annually from May 28, 2014. In connection with the $1.5 million lump-sum partial repayment, no gain was recognized. In April 2016, we paid Pillsbury approximately $0.4 million as a result of the settlement agreement with Targus. The remaining balance is approximately $0.1 million. |
Note 7 - Accrued Liabilities
Note 7 - Accrued Liabilities | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 7. Accrued Liabilities Accrued liabilities consist of the following (in thousands): July 31, January 31, 2016 2016 Uninvoiced materials and services received $ 7 $ 331 Accrued legal and professional fees 71 169 Accrued payroll and related expenses 36 33 Consulting 65 16 Other 146 138 $ 325 $ 687 During the second quarter of fiscal 2017, we wrote off $0.3 million of uninvoiced materials and services received liabilities to Zheng Ge as the statute of limitation on the related contracts has lapsed. |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. Commitments and Contingencies Executive Severance Commitments We have a severance compensation agreement with our Chief Executive Officer, Thomas Lanni. This agreement requires us to pay Mr. Lanni, in the event of a termination of employment following a change of control of the Company or certain other circumstances, the amount of his then current annual base salary and the amount of any bonus amount he would have achieved for the year in which the termination occurs plus the acceleration of unvested options. We have not recorded any liability in the consolidated financial statements for this agreement. Executive and Board of Directors Compensation On November 2, 2013, the Company approved a deferred compensation plan for its Chief Executive Officer and Board of Directors. As of July 31, 2016 no compensation expense has been accrued under this deferred compensation plan as its goal has not yet been attained. Legal Contingencies On February 3, 2015, we filed a lawsuit against Apple for patent infringement. The complaint alleges that Apple products sold in the United States utilizing the Apple Lightning® power supply adapter system, including most iPad®, iPhone®, and iPod® products, infringe our patented intellectual property. This lawsuit represents our most significant enforcement effort to date, and, together with the Best Buy and Targus lawsuits, demonstrates the our ongoing and accelerated efforts to methodically pursue those companies that we believe have infringed on the intellectual property estate that we have developed over the last 20 years. Although we intend to vigorously pursue our rights in this case, the outcome of this matter is not determinable as of the date of this report. On February 13, 2015, we filed a lawsuit against Best Buy for patent infringement under the patent laws of the United States. The complaint alleges that certain Best Buy power charging products sold in the United States under the Rocketfish brand infringe the Company’s patented intellectual property. Although we intend to vigorously pursue our rights in this case, the outcome of this matter is not determinable as of the date of this report. In addition to the pending matters described above, we are, from time to time, involved in various legal proceedings incidental to the conduct of our business. We are unable to predict the ultimate outcome of these matters. |
Note 9 - Legal Settlement
Note 9 - Legal Settlement | 6 Months Ended |
Jul. 31, 2016 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 9. Legal Settlement On March 10, 2014, we filed a lawsuit in federal court against Targus for patent infringement, breach of contract, intentional interference with contract, violation of business and professional codes, misrepresentation and fraudulent concealment. On March 26, 2016, we entered into a confidential settlement and license agreement with Targus that resolves all claims arising from the aforementioned litigation. Pursuant to the terms of the settlement agreement, we granted Targus a world-wide license to make, use, sell and distribute Licensed Products (as defined below), as well as a sublicense to have Licensed Products manufactured by third parties solely for the benefit of and sale to Targus. In addition, we granted Targus, for a limited number of units, the right to make, use, sell and distribute Licensed Products for third-party original equipment manufacturers (“OEMs”). “Licensed Products” means any power adaptor or power supply incorporating patents or other intellectual property owned or licensed by us. In exchange for the license granted under the settlement agreement, Targus paid us a one-time, lump-sum payment on April 1, 2016, plus the possibility of future per-unit royalty payments if Targus exceeds the limit on Licensed Products that Targus may sell to OEMs under the settlement agreement. We have been granted confidential treatment from the SEC related to the one-time payment, the calculation of royalty payments and the OEM unit limit pursuant to the confidential treatment request filed by us with the SEC. On April 26, 2011, Chicony, the contract manufacturer of the Bronx product that was the subject of a product recall, filed a complaint against us for breach of contract, seeking payment of $1.2 million for the alleged non-payment by us of amounts alleged by Chicony to be due it for products purchased from it by the Company. We denied liability and filed a cross-complaint on May 13, 2011 seeking the recovery of damages of $4.9 million caused by Chicony's failure to adhere to our technical specifications when manufacturing the Bronx product, which we believe resulted in the recall of the product. On April 16, 2013, the court approved our first-amended cross-complaint, which added intentional interference to our complaint and increased the damages we were seeking to at least $15.0 million. On February 4, 2014, a jury returned a verdict in our favor and awarded us damages of approximately $10.8 million, offset by previously accrued liabilities of $1.1 million for a net award of approximately $9.7 million. Effective as of May 15, 2014, Chicony entered into a settlement agreement with us that dismissed all claims between the parties arising from the litigation referenced above. Pursuant to the terms of the settlement agreement, Chicony agreed to pay us $7.6 million in lieu of the jury’s net award of $9.7 million or any other related costs or fees. $4.0 million of the settlement amount was paid to us on May 16, 2014, with the balance of $3.6 million paid to us on May 30, 2014. We recorded a gain of $7.6 million associated with this settlement in the quarter ended July 31, 2014. As a result of the settlement agreement, the $1.1 million payable to Chicony for contract manufacturing costs has been legally dismissed and discharged and recorded as an offset to Cost of Revenues in the quarter ended July 31, 2014. Further pursuant to the settlement agreement, each party released the other and its affiliates from any and all claims related to the subject matter of the litigation and we covenanted not to sue Chicony on the next 500,000 power adapters sold by Chicony after May 15, 2014 that we allege infringe on our intellectual property rights. The settlement agreement also contains other representations, warranties and covenants of both parties that are customary for an agreement of this type. On September 1, 2011, subsequent to receiving an infringement notification from us, Kensington filed a lawsuit against us alleging that five of our patents relating to power technology are invalid and/or not infringed by products made and/or sold by Kensington. On February 29, 2012, we denied these claims and filed a cross-complaint alleging infringement by Kensington of each of these five patents. On February 4, 2014, Kensington entered into a settlement and licensing agreement with the Company with an effective date of February 1, 2014 that dismissed all claims between the two parties arising from the litigation referenced above. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jul. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated balance sheet as of July 31, 2016, which has been derived from our audited financial statements, and our unaudited interim condensed consolidated financial statements as of July 31, 2016 included herein have been prepared without audit in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The Company believes that the disclosures are adequate to make the information presented not misleading when read in conjunction with the audited consolidated financial statements included in the Company’s annual report on Form 10-K for its fiscal year ended January 31, 2016 (the “2016 Form 10-K”), which was filed with the SEC on April 30, 2016. The accounting policies followed by the Company are set forth in Note 2 to the Company’s audited financial statements included in the 2016 Form 10-K. The unaudited interim condensed consolidated financial information presented herein reflects all adjustments, consisting only of normal recurring accruals, which are, in the opinion of management, necessary for a fair presentation of the consolidated results for the interim periods presented. The consolidated results for the three and six months ended July 31, 2016 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2017. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The unaudited interim condensed consolidated financial statements of the Company include the accounts of Comarco, Inc. and CWT, its wholly owned subsidiary. All material intercompany balances, transactions, and profits and losses have been eliminated. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents All highly liquid investments with original maturity dates of three months or less when acquired are classified as cash and cash equivalents. The fair value of cash and cash equivalents approximates the amounts shown in the consolidated financial statements. Cash and cash equivalents are generally maintained in uninsured accounts, which are subject to investment risk including possible loss of |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Our restricted cash balances are secured by separate bank accounts and represent a $77,000 letter of credit that serves as the security deposit for our corporate office lease that was our previous headquarters, which we are subletting to a third party. The lease for the former headquarter facility, as well as our sublease to the third party expired on August 31, 2016. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the periods reported. Actual results could materially differ from those estimates. Certain accounting principles require subjective and complex judgments to be used in the preparation of financial statements. Accordingly, a different financial presentation could result depending on the judgments, estimates, or assumptions that are used. Such estimates and assumptions include, but are not specifically limited to, those required in the assessment of the impairment of long-lived assets, valuation allowances for deferred tax assets, valuation of derivative liabilities and determination of stock-based compensation. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, accounts receivable due from customers and suppliers, accounts payable and accrued liabilities. The carrying amount of cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments. |
Selling, General and Administrative Expenses, Policy [Policy Text Block] | Legal expense classification Our legal expenses are classified in either selling, general, and administrative expenses or engineering and support expenses depending on the nature of the legal expense. All legal expenses incurred related to our intellectual property, including associated litigation expense and maintenance of our patent portfolio, are included in engineering and support expenses in our consolidated statement of operations. All other legal expenses, including all other litigation expense and public company legal expense, are included in selling, general, and administrative expenses in our condensed consolidated statement of operations. |
Income Tax, Policy [Policy Text Block] | Income tax expense Significant management judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities and any required valuation allowance. We continue to maintain a full valuation allowance on the entire deferred tax asset balance. This valuation allowance was established based on management’s overall assessment of risks and uncertainties related to our future ability to realize, and hence, utilize certain deferred tax assets, primarily consisting of net operating loss carry forwards and temporary differences. Due to the current and prior years’ operating losses, the adjusted net deferred tax assets remained fully reserved as of July 31, 2016. |
Note 4 - Stock-based Compensa16
Note 4 - Stock-based Compensation (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Six Months Ended July 31, July 31, 2016 2015 2016 2015 Stock-based compensation expense $ 5 $ 9 $ 18 $ 16 Impact on basic and diluted earnings per share $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Six Months Ended July 31, 2015 Weighted average risk-free interest rate 2 % Expected life (in years) 10 Expected stock volatility 152 % Dividend yield - Expected forfeitures - |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Outstanding Options Weighted-Ave. Number of Exercise Shares Price Balance, January 31, 2016 950,000 $ 0.96 Options granted - - Options canceled or expired (246,192 ) 1.06 Options exercise - - Balance, July 31, 2016 703,808 $ 0.51 Stock Options Exercisable at July 31, 2016 663,808 $ 0.48 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Awards Outstanding Options Exercisable Weighted-Ave. Range of Number Remaining Weighted-Ave. Number Weighted-Ave. Exercise/Grant Prices Outstanding Contractual Life Exercise/Grant Price Exercisable Exercise Price $0.14 - $0.16 203,808 8.88 $ 0.15 203,808 $ 0.15 $0.40 385,000 6.01 $ 0.40 385,000 $ 0.40 $1.09 100,000 2.28 $ 1.09 60,000 $ 1.09 $4.53 15,000 1.58 $ 4.53 15,000 $ 4.53 703,808 $ 0.51 663,808 $ 0.48 |
Note 5 - Net Income (Loss) Pe17
Note 5 - Net Income (Loss) Per Share (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended July 31, Six Months Ended July 31, 2016 2015 2016 2015 Net income (loss) $ 128 $ (265 ) $ 1,452 $ (576 ) Basic net income (loss) per share: Weighted-average shares outstanding-Basic 14,644 14,644 14,644 14,659 Basic net income (loss) per share $ 0.01 $ (0.02 ) $ 0.10 $ (0.04 ) Diluted net (loss) income per share: Weighted average shares outstanding - basic 14,644 14,644 14,644 14,659 Effect of potentially dilutive securities - - - - Weighted average shares outstanding - diluted 14,644 14,644 14,644 14,659 Diluted net income (loss) per share $ 0.01 $ (0.02 ) $ 0.10 $ (0.04 ) |
Note 6 - Supplier Concentrati18
Note 6 - Supplier Concentrations (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | As of July 31, As of January 31, 2016 2016 Total gross accounts payable $ 127 100 % $ 883 100 % Supplier concentration: Pillsbury Winthrop Shaw Pittman, LLP 62 49 % 432 49 % $ 62 49 % $ 432 49 % |
Note 7 - Accrued Liabilities (T
Note 7 - Accrued Liabilities (Tables) | 6 Months Ended |
Jul. 31, 2016 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | July 31, January 31, 2016 2016 Uninvoiced materials and services received $ 7 $ 331 Accrued legal and professional fees 71 169 Accrued payroll and related expenses 36 33 Consulting 65 16 Other 146 138 $ 325 $ 687 |
Note 2 - Current Developments20
Note 2 - Current Developments, Future Operations, Liquidity and Capital Resources (Details Textual) - USD ($) | May 30, 2014 | May 16, 2014 | May 15, 2014 | Feb. 04, 2014 | Apr. 30, 2016 | May 31, 2014 | Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2016 | Jul. 31, 2015 | Jan. 31, 2016 |
Zheng Ge Electrical Company Ltd [Member] | |||||||||||
Accounts Payable, Write-offs | $ 600,000 | ||||||||||
Accounts Receivable, Write-offs | 100,000 | ||||||||||
Chicony Power Technology Company Ltd [Member] | Net of Attorneys Fees [Member] | |||||||||||
Proceeds from Legal Settlements | $ 6,500,000 | ||||||||||
Chicony Power Technology Company Ltd [Member] | Cost of Sales [Member] | |||||||||||
Increase (Decrease) in Accounts Payable | (1,100,000) | ||||||||||
Chicony Power Technology Company Ltd [Member] | |||||||||||
Litigation Settlement, Amount | $ 7,600,000 | $ 9,700,000 | 7,600,000 | ||||||||
Proceeds from Legal Settlements | $ 3,600,000 | $ 4,000,000 | |||||||||
Professional Fees | $ 1,100,000 | ||||||||||
Pillsbury Winthrop Shaw Pittman L L P [Member] | Litigation Reserve [Member] | |||||||||||
Liabilities, Current | $ 100,000 | 100,000 | $ 100,000 | $ 100,000 | |||||||
Pillsbury Winthrop Shaw Pittman L L P [Member] | |||||||||||
Payments for Legal Settlements | $ 400,000 | $ 400,000 | |||||||||
Increase (Decrease) in Accounts Payable | (756,000) | $ (3,000) | |||||||||
Working Capital | 700,000 | 700,000 | |||||||||
Liabilities, Current | $ 452,000 | $ 452,000 | $ 1,570,000 |
Note 3 - Summary of Significa21
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Jul. 31, 2016USD ($) |
Letter of Credit [Member] | |
Restricted Cash and Cash Equivalents | $ 77,000 |
Note 4 - Stock-based Compensa22
Note 4 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Restricted Stock [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | 0 | 0 | 0 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 0 | $ 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 350,000 | 0 | 350,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 0 | ||
Share Price | $ 0.08 | $ 0.08 | ||
Common Stock, Capital Shares Reserved for Future Issuance | 219,724 | 219,724 |
Note 4 - Share-based Compensati
Note 4 - Share-based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Stock-based compensation expense | $ 5 | $ 9 | $ 18 | $ 16 |
Impact on basic and diluted earnings per share (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Note 4 - Weighted Average Assum
Note 4 - Weighted Average Assumptions (Details) | 6 Months Ended |
Jul. 31, 2015 | |
Weighted average risk-free interest rate | 2.00% |
Expected life (in years) | 10 years |
Expected stock volatility | 152.00% |
Dividend yield | |
Expected forfeitures |
Note 4 - Stock Options Activity
Note 4 - Stock Options Activity (Details) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Balance, stock options (in shares) | 950,000 | |||
Balance, stock options, weighted-average exercise price (in dollars per share) | $ 0.96 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 350,000 | 0 | 350,000 |
Options granted, weighted-average exercise price (in dollars per share) | $ 0 | |||
Options canceled or expired (in shares) | (246,192) | |||
Options canceled or expired, weighted-average exercise price (in dollars per share) | $ 1.06 | |||
Options exercise (in shares) | 0 | |||
Options exercise, weighted-average exercise price (in dollars per share) | $ 0 | |||
Balance, stock options (in shares) | 703,808 | 703,808 | ||
Balance, stock options, weighted-average exercise price (in dollars per share) | $ 0.51 | $ 0.51 | ||
Stock Options Exercisable (in shares) | 663,808 | 663,808 | ||
Stock Options Exercisable, weighted-average exercise price (in dollars per share) | $ 0.48 | $ 0.48 |
Note 4 - Stock Awards Outstandi
Note 4 - Stock Awards Outstanding (Details) | 6 Months Ended |
Jul. 31, 2016$ / sharesshares | |
Range 1 [Member] | |
Range of Exercise/Grant Prices (in dollars per share) | $ 0.14 |
Range of Exercise/Grant Prices (in dollars per share) | $ 0.16 |
Number Outstanding (in shares) | shares | 203,808 |
Weighted-Ave. Remaining Contractual Life | 8 years 321 days |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 0.15 |
Number Exercisable (in shares) | shares | 203,808 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 0.15 |
Range 2 [Member] | |
Number Outstanding (in shares) | shares | 385,000 |
Weighted-Ave. Remaining Contractual Life | 6 years 3 days |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 0.40 |
Number Exercisable (in shares) | shares | 385,000 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 0.40 |
Range 3 [Member] | |
Number Outstanding (in shares) | shares | 100,000 |
Weighted-Ave. Remaining Contractual Life | 2 years 102 days |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 1.09 |
Number Exercisable (in shares) | shares | 60,000 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 1.09 |
Range 4 [Member] | |
Number Outstanding (in shares) | shares | 15,000 |
Weighted-Ave. Remaining Contractual Life | 1 year 211 days |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 4.53 |
Number Exercisable (in shares) | shares | 15,000 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 4.53 |
Number Outstanding (in shares) | shares | 703,808 |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 0.51 |
Number Exercisable (in shares) | shares | 663,808 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 0.48 |
Note 5 - Net Income (Loss) Pe27
Note 5 - Net Income (Loss) Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,007,226 | 785,870 | 2,948,613 | 3,044,475 |
Note 5 - Summary of Basic and D
Note 5 - Summary of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 31, 2016 | Jul. 31, 2015 | Jul. 31, 2016 | Jul. 31, 2015 | |
Net income (loss) | $ 128 | $ (265) | $ 1,452 | $ (576) |
Basic net income (loss) per share: | ||||
Weighted-average shares outstanding-Basic (in shares) | 14,644 | 14,644 | 14,644 | 14,659 |
Basic net income (loss) per share (in dollars per share) | $ 0.01 | $ (0.02) | $ 0.10 | $ (0.04) |
Diluted net (loss) income per share: | ||||
Weighted-average shares outstanding-Basic (in shares) | 14,644 | 14,644 | 14,644 | 14,659 |
Effect of potentially dilutive securities (in shares) | ||||
Weighted average shares outstanding - diluted (in shares) | 14,644 | 14,644 | 14,644 | 14,659 |
Diluted net income (loss) per share (in dollars per share) | $ 0.01 | $ (0.02) | $ 0.10 | $ (0.04) |
Note 6 - Supplier Concentrati29
Note 6 - Supplier Concentrations (Details Textual) - USD ($) | May 28, 2014 | Apr. 30, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Jul. 31, 2016 | Jan. 31, 2016 |
Supplier Concentration Risk [Member] | Account Receivable from Suppliers [Member] | ||||||
Concentration Risk, Percentage | 0.00% | |||||
Supplier Concentration Risk [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 100.00% | ||||
Pillsbury Winthrop Shaw Pittman L L P [Member] | ||||||
Gain (Loss) Related to Litigation Settlement | $ 0 | |||||
Lump Sum Legal Fee | 1,500,000 | |||||
Accrued Professional Fees | $ 400,000 | |||||
Interest Rate for Outstanding Legal Fees Payable Solely with Settlement | 20.00% | |||||
Zheng Ge Electrical Company Ltd [Member] | ||||||
Accounts Receivable, Write-offs | $ 100,000 | |||||
Accounts Payable, Write-offs | 600,000 | |||||
Pillsbury Winthrop Shaw Pittman L L P [Member] | Litigation Reserve [Member] | ||||||
Liabilities, Current | $ 100,000 | 100,000 | $ 100,000 | $ 100,000 | ||
Pillsbury Winthrop Shaw Pittman L L P [Member] | ||||||
Payments for Legal Settlements | $ 400,000 | $ 400,000 | ||||
Liabilities, Current | $ 452,000 | $ 452,000 | $ 1,570,000 |
Note 6 - Supplier Concentrati30
Note 6 - Supplier Concentration Risk Accounts Payable (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jul. 31, 2016 | Jan. 31, 2016 | |
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Pillsbury Winthrop Shaw Pittman L L P [Member] | ||
Accounts payable | $ 62,000 | $ 432,000 |
Concentration Risk, Percentage | 49.00% | 49.00% |
Supplier Concentration Risk [Member] | Accounts Payable [Member] | ||
Accounts payable | $ 62,000 | $ 432,000 |
Concentration Risk, Percentage | 49.00% | 49.00% |
Supplier Concentration Risk [Member] | ||
Accounts payable | $ 127,000 | $ 883,000 |
Concentration Risk, Percentage | 100.00% | 100.00% |
Accounts payable | $ 127,000 | $ 883,000 |
Note 7 - Accrued Liabilities (D
Note 7 - Accrued Liabilities (Details Textual) $ in Millions | 3 Months Ended |
Jul. 31, 2016USD ($) | |
Zheng Ge Electrical Company Ltd [Member] | |
Uninvoiced Materials and Services Received, Write-offs | $ 0.3 |
Note 7 - Accrued Liabilities 32
Note 7 - Accrued Liabilities (Details) - USD ($) | Jul. 31, 2016 | Jan. 31, 2016 |
Uninvoiced materials and services received | $ 7,000 | $ 331,000 |
Accrued legal and professional fees | 71,000 | 169,000 |
Accrued payroll and related expenses | 36,000 | 33,000 |
Consulting | 65,000 | 16,000 |
Other | 146,000 | 138,000 |
$ 325,000 | $ 687,000 |
Note 8 - Commitments and Cont33
Note 8 - Commitments and Contingencies (Details Textual) | Jul. 31, 2016USD ($) |
Deferred Compensation Liability, Current and Noncurrent | $ 0 |
Note 9 - Legal Settlement (Deta
Note 9 - Legal Settlement (Details Textual) $ in Millions | May 30, 2014USD ($) | May 16, 2014USD ($) | May 15, 2014USD ($) | Feb. 04, 2014USD ($) | Apr. 26, 2011USD ($) | May 31, 2014USD ($) | Jul. 31, 2014USD ($) | Apr. 16, 2013USD ($) | Feb. 29, 2012 | Sep. 01, 2011 | May 13, 2011USD ($) |
Additional Damages Sought [Member] | |||||||||||
Gain Contingency, Unrecorded Amount | $ 15 | ||||||||||
Gross Amount [Member] | Chicony Power Technology Company Ltd [Member] | |||||||||||
Litigation Settlement, Amount | $ 10.8 | ||||||||||
Chicony Power Technology Company Ltd [Member] | |||||||||||
Litigation Settlement, Amount | $ 7.6 | 9.7 | $ 7.6 | ||||||||
Previously Accrued Seeking Payments | $ 1.1 | $ 1.1 | |||||||||
Proceeds from Legal Settlements | $ 3.6 | $ 4 | |||||||||
Gain (Loss) Related to Litigation Settlement | $ 7.6 | ||||||||||
Number of Units Under Indemnity Agreement | 500,000 | ||||||||||
Loss Contingency, Damages Sought, Value | $ 1.2 | ||||||||||
Loss Contingency Amount Claimed for Recovery of Damages | $ 4.9 | ||||||||||
Number of Patents Relating to Power Technology | 5 | ||||||||||
Number of Comarco Patents | 5 |