Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Oct. 31, 2016 | Dec. 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 | Oct. 31, 2016 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Oct. 31, 2016 | Jan. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 938 | $ 680 |
Accounts receivable due from suppliers, net of reserves of $0 | 122 | |
Other current assets | 29 | 41 |
Total current assets | 967 | 843 |
Property and equipment, net | 2 | |
Restricted cash | 77 | |
Total assets | 967 | 922 |
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | ||
Accounts payable | 127 | 883 |
Accrued liabilities | 318 | 687 |
Total current liabilities | 445 | 1,570 |
Total liabilities | 445 | 1,570 |
Commitments and Contingencies (Note 8) | ||
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 October 31, 2016 and January 31, 2016 | 1,464 | 1,464 |
Additional paid-in capital | 18,385 | 18,367 |
Accumulated deficit | (19,327) | (20,479) |
Total stockholders' equity (deficit) | 522 | (648) |
Total liabilities and stockholders' equity (deficit) | $ 967 | $ 922 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Oct. 31, 2016 | Jan. 31, 2016 |
Accounts receivable due from suppliers, reserves | $ 0 | $ 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 | 9 Months Ended | ||
Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2016 | Oct. 31, 2015 | |
Revenue | ||||
Cost of revenue | (472) | (472) | ||
Gross profit | 472 | 472 | ||
Selling, general and administrative expenses | 222 | 236 | 686 | 789 |
Engineering and support expenses | 79 | 10 | 339 | 58 |
301 | 246 | 1,025 | 847 | |
Operating loss | 171 | (246) | (553) | (847) |
Other income, net | (471) | 1,705 | 25 | |
(Loss) income from operations before income taxes | (300) | (246) | 1,152 | (822) |
Income tax expense | ||||
Net (loss) income | $ (300) | $ (246) | $ 1,152 | $ (822) |
Basic net (loss) income per share (in dollars per share) | $ (0.02) | $ (0.02) | $ 0.08 | $ (0.06) |
Diluted net (loss) income per share (in dollars per share) | $ (0.02) | $ (0.02) | $ 0.08 | $ (0.06) |
Weighted-average shares outstanding: | ||||
Weighted-average shares outstanding-Basic (in shares) | 14,644 | 14,644 | 14,644 | 14,654 |
Diluted (in shares) | 14,644 | 14,644 | 14,644 | 14,654 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2016 | Oct. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ 1,152 | $ (822) |
Adjustments to reconcile net income (loss) to net cash provded by (used in) operating activities: | ||
Depreciation and amortization | 2 | 4 |
Stock-based compensation expense | 18 | 29 |
Accounts receivable due from suppliers | 122 | |
Other assets | 12 | (73) |
Accounts payable | (756) | (3) |
Accrued liabilities | (369) | (173) |
Income taxes payable | (40) | |
Net cash provided by (used in) operating activities | 181 | (1,078) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Restricted cash | 77 | (77) |
Net cash provided by (used in) investing activites | 77 | (77) |
Net increase (decrease) in cash and cash equivalents | 258 | (1,155) |
Cash and cash equivalents, beginning of period | 680 | 2,140 |
Cash and cash equivalents, end of period | 938 | 985 |
Supplementary disclosures of cash flow information: | ||
Cash paid for income taxes, net of refunds | $ 40 |
Note 1 - Organization
Note 1 - Organization | 9 Months Ended |
Oct. 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 1971, September 1993. |
Note 2 - Current Developments,
Note 2 - Current Developments, Future Operations, Liquidity and Capital Resources | 9 Months Ended |
Oct. 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. 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. Although management believes additional funding is required to meet our liquidity needs will be obtained, there is no guarantee that we will be able to generate or raise the additional required funding or that funds will be available on terms acceptable to us. Our condensed consolidated financial statements do not reflect any adjustments related to the uncertainty of this outcome. 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, March 26, 2016, 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 third In exchange for the license granted under the settlement agreement, Targus paid us a one April 1, 2016, may one On February 3, 2015, 20 COMARCO, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) On February 13, 2015, August 23, 2016. October 28, 2016 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 may may We had working capital of approximately $0.5 October 31, 2016, $0.1 $0.1 (the “Contingent Balance”) that 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 8). April 30, 2016, $0.4 $0.1 20% May 28, 2014. During the quarter ended July 31, 2016, $0.1 $0.6 We believe that our working capital will allow us to discharge non contingent liabilities in the normal course of business over the next twelve 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 | 9 Months Ended |
Oct. 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. COMARCO, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Basis of Presentation The accompanying condensed consolidated balance sheet as of October 31, 2016, three nine months ended October 31, 2016 10 8 10 January 31, 2016 “2016 10 April 30, 2016. Note 2 2016 10 three nine months ended October 31, 2016 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 Restricted Cash Our restricted cash balance was secured by a separate bank account and represented a $77,000 subletted to a third August 31, 2016. August 31, 2016 $77,000 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 valuation allowances for deferred tax assets and determination of stock based compensation. COMARCO, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Fair Value of Financial Instruments Our financial instruments include cash and cash equivalents, accounts payable and accrued liabilities. The carrying amount of cash and cash equivalents, 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 condensed 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 October 31, 2016. |
Note 4 - Stock-based Compensati
Note 4 - Stock-based Compensation | 9 Months Ended |
Oct. 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 COMARCO, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) The compensation expense recognized is summarized in the table below (in thousands except per share amounts): Three Months Ended Nine Months Ended October 31, October 31, 2016 2015 2016 2015 Stock-based compensation expense $ - $ 13 $ 18 $ 29 Impact on basic and diluted earnings per share $ - $ (0.00 ) $ (0.00 ) $ (0.00 ) The total compensation cost related to nonvested awards not yet recognized is approximately $40,000. During the nine months ended October 31, 2016, 396,189 stock options and no restricted stock units were granted. During the nine months ended October 31, 2015, 350,000 nine months ended October 31, 2016 2015 Nine Months Ended October 31, 2016 2015 Weighted average risk-free interest rate 2 % 2 % Expected life (in years) 10 10 Expected stock volatility 150 % 152 % Dividend yield - - Expected forfeitures - - Transactions and other information related to stock options granted under these plans for the nine months ended October 31, 2016 Outstanding Options Weighted-Ave. Number of Exercise Shares Price Balance, January 31, 2016 950,000 $ 0.96 Options granted 396,189 0.10 Options canceled or expired (246,189 ) 1.06 Options exercise - - Balance, October 31, 2016 1,100,000 $ 0.37 Stock Options Exercisable at October 31, 2016 663,811 $ 0.48 As of October 31, 2016, $0, $0.10 October 31, 2016. October 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 $0.09 300,000 9.99 $ 0.09 0 $ 0.09 $0.14 - $0.16 300,000 8.63 $ 0.15 203,811 $ 0.15 $0.40 385,000 5.75 $ 0.40 385,000 $ 0.40 $1.09 100,000 2.03 $ 1.09 60,000 $ 1.09 $4.53 15,000 1.33 $ 4.53 15,000 $ 4.53 1,100,000 $ 0.51 663,811 Shares available under the plans for future grants at October 31, 2016 323,535. |
Note 5 - Net (Loss) Income Per
Note 5 - Net (Loss) Income Per Share | 9 Months Ended |
Oct. 31, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 5. Net (Loss) Income Per Share We calculate basic (loss) income per share by dividing net (loss) by the weighted average number of common shares outstanding during the reporting period. Diluted (loss) income per share reflects the effects of potentially dilutive securities. Because we incurred a net loss for the three nine months ended October 31, 2015, Potential common shares of 3,110,670 3,095,205 three nine months ended October 31, 2016, Potential common shares of 787,912 662,868 three nine months ended October 31, 2015, The following table presents reconciliations of the numerators and denominators of the basic and diluted loss per share computations for net (loss) income. In the tables below, “Net (loss) income” represents the numerator and “shares” represents the denominator (in thousands, except per share amounts): Three Months Ended October 31, Nine Months Ended October 31, 2016 2015 2016 2015 Net (loss) income $ (300 ) $ (246 ) $ 1,152 $ (822 ) Basic net income (loss) per share: Weighted-average shares outstanding-Basic 14,644 14,644 14,644 14,654 Basic net (loss) income per share $ (0.02 ) $ (0.02 ) $ 0.08 $ (0.06 ) Diluted net (loss) income per share: Weighted average shares outstanding - basic 14,644 14,644 14,644 14,654 Effect of potentially dilutive securities - - - - Weighted average shares outstanding - diluted 14,644 14,644 14,644 14,654 Diluted net (loss) income per share $ (0.02 ) $ (0.02 ) $ 0.08 $ (0.06 ) |
Note 6 - Supplier Concentration
Note 6 - Supplier Concentrations | 9 Months Ended |
Oct. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 6. Concentrations The companies comprising 10 percent October 31, 2016 January 31, 2016 As of October 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 8). May 28, 2014, $1.5 $0.4 May 28, 2014 $1.5 April 2016, $0.4 $0.1 20% May 28, 2014. |
Note 7 - Accrued Liabilities
Note 7 - Accrued Liabilities | 9 Months Ended |
Oct. 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): October 31, January 31, 2016 2016 Uninvoiced materials and services received $ 7 $ 331 Accrued legal and professional fees 83 169 Accrued payroll and related expenses 14 33 Consulting 90 16 Other 124 138 $ 318 $ 687 During the quarter ended July 31, 2016, $0.3 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Oct. 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 condensed consolidated financial statements for this agreement. Executive and Board of Directors Compensation On November 2, 2013, October 31, 2016 COMARCO, INC. AND SUBSIDIARY NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Legal Contingencies On February 3, 2015, 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 On February 13, 2015, August 23, 2016. October 28, 2016 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 | 9 Months Ended |
Oct. 31, 2016 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | 9. Legal Settlement On March 10, 2014, March 26, 2016, 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 third In exchange for the license granted under the settlement agreement, Targus paid us a one April 1, 2016, may one |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated balance sheet as of October 31, 2016, three nine months ended October 31, 2016 10 8 10 January 31, 2016 “2016 10 April 30, 2016. Note 2 2016 10 three nine months ended October 31, 2016 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 |
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | Restricted Cash Our restricted cash balance was secured by a separate bank account and represented a $77,000 subletted to a third August 31, 2016. August 31, 2016 $77,000 |
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 valuation allowances for deferred tax assets 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 payable and accrued liabilities. The carrying amount of cash and cash equivalents, 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 condensed 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 October 31, 2016. |
Note 4 - Stock-based Compensa16
Note 4 - Stock-based Compensation (Tables) | 9 Months Ended |
Oct. 31, 2016 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Nine Months Ended October 31, October 31, 2016 2015 2016 2015 Stock-based compensation expense $ - $ 13 $ 18 $ 29 Impact on basic and diluted earnings per share $ - $ (0.00 ) $ (0.00 ) $ (0.00 ) |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Nine Months Ended October 31, 2016 2015 Weighted average risk-free interest rate 2 % 2 % Expected life (in years) 10 10 Expected stock volatility 150 % 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 396,189 0.10 Options canceled or expired (246,189 ) 1.06 Options exercise - - Balance, October 31, 2016 1,100,000 $ 0.37 Stock Options Exercisable at October 31, 2016 663,811 $ 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 $0.09 300,000 9.99 $ 0.09 0 $ 0.09 $0.14 - $0.16 300,000 8.63 $ 0.15 203,811 $ 0.15 $0.40 385,000 5.75 $ 0.40 385,000 $ 0.40 $1.09 100,000 2.03 $ 1.09 60,000 $ 1.09 $4.53 15,000 1.33 $ 4.53 15,000 $ 4.53 1,100,000 $ 0.51 663,811 |
Note 5 - Net (Loss) Income Pe17
Note 5 - Net (Loss) Income Per Share (Tables) | 9 Months Ended |
Oct. 31, 2016 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended October 31, Nine Months Ended October 31, 2016 2015 2016 2015 Net (loss) income $ (300 ) $ (246 ) $ 1,152 $ (822 ) Basic net income (loss) per share: Weighted-average shares outstanding-Basic 14,644 14,644 14,644 14,654 Basic net (loss) income per share $ (0.02 ) $ (0.02 ) $ 0.08 $ (0.06 ) Diluted net (loss) income per share: Weighted average shares outstanding - basic 14,644 14,644 14,644 14,654 Effect of potentially dilutive securities - - - - Weighted average shares outstanding - diluted 14,644 14,644 14,644 14,654 Diluted net (loss) income per share $ (0.02 ) $ (0.02 ) $ 0.08 $ (0.06 ) |
Note 6 - Supplier Concentrati18
Note 6 - Supplier Concentrations (Tables) | 9 Months Ended |
Oct. 31, 2016 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | As of October 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) | 9 Months Ended |
Oct. 31, 2016 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | October 31, January 31, 2016 2016 Uninvoiced materials and services received $ 7 $ 331 Accrued legal and professional fees 83 169 Accrued payroll and related expenses 14 33 Consulting 90 16 Other 124 138 $ 318 $ 687 |
Note 2 - Current Developments20
Note 2 - Current Developments, Future Operations, Liquidity and Capital Resources (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | ||||
Apr. 30, 2016 | Jul. 31, 2016 | Apr. 30, 2016 | Oct. 31, 2016 | Jan. 31, 2016 | May 28, 2014 | |
Working Capital | $ 500,000 | |||||
Liabilities, Current | 445,000 | $ 1,570,000 | ||||
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] | ||||||
Interest Rate for Outstanding Legal Fees Payable Solely with Settlement | 20.00% | |||||
Pillsbury Winthrop Shaw Pittman L L P [Member] | ||||||
Payments for Legal Settlements | $ 400,000 | $ 400,000 | ||||
Pillsbury Winthrop Shaw Pittman L L P [Member] | Litigation Reserve [Member] | ||||||
Liabilities, Current | $ 100,000 | $ 100,000 | $ 100,000 |
Note 3 - Summary of Significa21
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Oct. 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 ($) | 9 Months Ended | |
Oct. 31, 2016 | Oct. 31, 2015 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 40,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 396,189 | 350,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | |
Share Price | $ 0.10 | |
Common Stock, Capital Shares Reserved for Future Issuance | 323,535 |
Note 4 - Stock-based Compensa23
Note 4 - Stock-based Compensation - Share-based Compensation Expense (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2016 | Oct. 31, 2015 | |
Stock-based compensation expense | $ 13 | $ 18 | $ 29 | |
Impact on basic and diluted earnings per share (in dollars per share) | $ 0 | $ 0 | $ 0 |
Note 4 - Stock-based Compensa24
Note 4 - Stock-based Compensation - Weighted Average Assumptions (Details) | 9 Months Ended | |
Oct. 31, 2016 | Oct. 31, 2015 | |
Weighted average risk-free interest rate (Dimensionless number) | 2.00% | 2.00% |
Expected life (in years) (Year) | 10 years | 10 years |
Expected stock volatility (Dimensionless number) | 150.00% | 152.00% |
Dividend yield (Dimensionless number) | ||
Expected forfeitures (Dimensionless number) |
Note 4 - Stock-based Compensa25
Note 4 - Stock-based Compensation - Stock Options Activity (Details) - $ / shares | 9 Months Ended | |
Oct. 31, 2016 | Oct. 31, 2015 | |
Balance, stock options (in shares) | 950,000 | |
Balance, stock options, weighted-average exercise price (in dollars per share) | $ 0.96 | |
Options granted (in shares) | 396,189 | 350,000 |
Options granted, weighted-average exercise price (in dollars per share) | $ 0.10 | |
Options canceled or expired (in shares) | (246,189) | |
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) | 1,100,000 | |
Balance, stocks options, weighted-average exercise price (in dollars per share) | $ 0.37 | |
Stock options exercisable (in shares) | 663,811 | |
Stock options exercisable, weighted-average exercise price (in dollars per share) | $ 0.48 |
Note 4 - Stock-based Compensa26
Note 4 - Stock-based Compensation - Stock Awards Outstanding (Details) | 9 Months Ended |
Oct. 31, 2016$ / sharesshares | |
Range 1 [Member] | |
Lower Range of Exercise/Grant Prices (in dollars per share) | $ 0.09 |
Upper Range of Exercise/Grant Prices (in dollars per share) | |
Number Outstanding (in shares) | shares | 300,000 |
Weighted-Ave. Remaining Contractual Life (Year) | 9 years 361 days |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 0.09 |
Number Exercisable (in shares) | shares | 0 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 0.09 |
Range 2 [Member] | |
Lower Range of Exercise/Grant Prices (in dollars per share) | 0.14 |
Upper Range of Exercise/Grant Prices (in dollars per share) | $ 0.16 |
Number Outstanding (in shares) | shares | 300,000 |
Weighted-Ave. Remaining Contractual Life (Year) | 8 years 229 days |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 0.15 |
Number Exercisable (in shares) | shares | 203,811 |
Weighted-Ave. Exercise Price (in dollars per share) | $ 0.15 |
Range 3 [Member] | |
Lower Range of Exercise/Grant Prices (in dollars per share) | 0.40 |
Upper Range of Exercise/Grant Prices (in dollars per share) | |
Number Outstanding (in shares) | shares | 385,000 |
Weighted-Ave. Remaining Contractual Life (Year) | 5 years 273 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 4 [Member] | |
Lower Range of Exercise/Grant Prices (in dollars per share) | 1.09 |
Upper Range of Exercise/Grant Prices (in dollars per share) | |
Number Outstanding (in shares) | shares | 100,000 |
Weighted-Ave. Remaining Contractual Life (Year) | 2 years 10 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 5 [Member] | |
Lower Range of Exercise/Grant Prices (in dollars per share) | 4.53 |
Upper Range of Exercise/Grant Prices (in dollars per share) | |
Number Outstanding (in shares) | shares | 15,000 |
Weighted-Ave. Remaining Contractual Life (Year) | 1 year 120 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 |
Range 6 [Member] | |
Number Outstanding (in shares) | shares | 1,100,000 |
Weighted-Ave. Exercise/Grant Price (in dollars per share) | $ 0.51 |
Number Exercisable (in shares) | shares | 663,811 |
Note 5 - Net (Loss) Income Pe27
Note 5 - Net (Loss) Income Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2016 | Oct. 31, 2015 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,110,670 | 787,912 | 3,095,205 | 662,868 |
Note 5 - Net (Loss) Income Pe28
Note 5 - Net (Loss) Income Per Share - Summary of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2016 | Oct. 31, 2015 | Oct. 31, 2016 | Oct. 31, 2015 | |
Net (loss) income | $ (300) | $ (246) | $ 1,152 | $ (822) |
Basic net income (loss) per share: | ||||
Weighted-average shares outstanding-Basic (in shares) | 14,644 | 14,644 | 14,644 | 14,654 |
Basic net (loss) income per share (in dollars per share) | $ (0.02) | $ (0.02) | $ 0.08 | $ (0.06) |
Diluted net (loss) income per share: | ||||
Weighted-average shares outstanding-Basic (in shares) | 14,644 | 14,644 | 14,644 | 14,654 |
Effect of potentially dilutive securities (in shares) | ||||
Weighted average shares outstanding - diluted (in shares) | 14,644 | 14,644 | 14,644 | 14,654 |
Diluted net (loss) income per share (in dollars per share) | $ (0.02) | $ (0.02) | $ 0.08 | $ (0.06) |
Note 6 - Supplier Concentrati29
Note 6 - Supplier Concentrations (Details Textual) - USD ($) | May 28, 2014 | Apr. 30, 2016 | Apr. 30, 2016 | Oct. 31, 2016 | Jan. 31, 2016 |
Liabilities, Current | $ 445,000 | $ 1,570,000 | |||
Pillsbury Winthrop Shaw Pittman L L P [Member] | |||||
Payments for Legal Settlements | $ 400,000 | $ 400,000 | |||
Pillsbury Winthrop Shaw Pittman L L P [Member] | Litigation Reserve [Member] | |||||
Liabilities, Current | $ 100,000 | $ 100,000 | $ 100,000 | ||
Pillsbury Winthrop Shaw Pittman L L P [Member] | |||||
Lump Sum Legal Fee | $ 1,500,000 | ||||
Accrued Professional Fees | $ 400,000 | ||||
Interest Rate for Outstanding Legal Fees Payable Solely with Settlement | 20.00% | ||||
Gain (Loss) Related to Litigation Settlement | $ 0 |
Note 6 - Supplier Concentrati30
Note 6 - Supplier Concentrations - Supplier Concentration Risk Accounts Payable (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Oct. 31, 2016 | Jan. 31, 2016 | |
Accounts payable | $ 127 | $ 883 |
Supplier Concentration Risk [Member] | ||
Accounts payable | $ 127 | $ 883 |
Concentration percentage, accounts payable (Dimensionless number) | 100.00% | 100.00% |
Supplier Concentration Risk [Member] | Accounts Payable [Member] | ||
Accounts payable | $ 62 | $ 432 |
Concentration percentage, accounts payable (Dimensionless number) | 49.00% | 49.00% |
Supplier Concentration Risk [Member] | Accounts Payable [Member] | Pillsbury Winthrop Shaw Pittman L L P [Member] | ||
Accounts payable | $ 62 | $ 432 |
Concentration percentage, accounts payable (Dimensionless number) | 49.00% | 49.00% |
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 -
Note 7 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2016 | Jan. 31, 2016 |
Uninvoiced materials and services received | $ 7 | $ 331 |
Accrued legal and professional fees | 83 | 169 |
Accrued payroll and related expenses | 14 | 33 |
Consulting | 90 | 16 |
Other | 124 | 138 |
$ 318 | $ 687 |