Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Jan. 31, 2023 | Apr. 28, 2023 | Jul. 31, 2022 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000926423 | ||
Entity Registrant Name | MIND TECHNOLOGY, INC | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --01-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2023 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2023 | ||
Document Transition Report | false | ||
Entity File Number | 000-13490 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 76-0210849 | ||
Entity Address, Address Line One | 2002 Timberloch Place | ||
Entity Address, City or Town | The Woodlands | ||
Entity Address, State or Province | TX | ||
Entity Address, Postal Zip Code | 77380 | ||
City Area Code | 281 | ||
Local Phone Number | 353-4475 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 10,499,390 | ||
Entity Common Stock, Shares Outstanding | 13,788,738 | ||
Auditor Location | Houston, Texas | ||
Auditor Firm ID | 659 | ||
Auditor Name | Moss Adams LLP | ||
Document Financial Statement Error Correction [Flag] | false | ||
Series A Preferred Stock [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Series A Preferred Stock - $1.00 par value per share | ||
Trading Symbol | MINDP | ||
Security Exchange Name | NASDAQ | ||
Common Stock [Member] | |||
Document Information [Line Items] | |||
Title of 12(b) Security | Common Stock - $0.01 par value per share | ||
Trading Symbol | MIND | ||
Security Exchange Name | NASDAQ |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 778 | $ 5,114 |
Accounts Receivable, Net | 3,993 | 8,126 |
Inventories, Net | 15,318 | 14,006 |
Prepaid expenses and other current assets | 2,144 | 1,840 |
Assets held for sale | 0 | 159 |
Total current assets | 22,233 | 29,245 |
Property and equipment, net | 3,945 | 4,272 |
Operating lease right-of-use assets | 1,749 | 1,835 |
Intangible assets, net | 4,931 | 6,018 |
Other assets | 0 | 650 |
Total assets | 32,858 | 42,020 |
Current liabilities: | ||
Accounts payable | 4,101 | 2,046 |
Deferred revenue | 164 | 232 |
Accrued expenses and other current liabilities | 2,247 | 5,762 |
Income taxes payable | 1,516 | 837 |
Operating lease liabilities - current | 903 | 869 |
Liabilities held for sale | 0 | 953 |
Total current liabilities | 8,931 | 10,699 |
Operating lease liabilities - non-current | 846 | 966 |
Deferred tax liability | 29 | 92 |
Total liabilities | 9,806 | 11,757 |
Stockholders’ equity: | ||
Preferred stock, $1.00 par value; 2,000 shares authorized; 1,683 shares issued and outstanding at each January 31, 2023, and 2022 | 37,779 | 37,779 |
Common stock $0.01 par value; 40,000 shares authorized; 15,721 and 15,705 shares issued at January 31, 2023 and 2022, respectively | 157 | 157 |
Additional paid-in capital | 129,580 | 128,926 |
Treasury stock, at cost (1,933 and 1,931 shares at January 31, 2023 and 2022, respectively) | (16,863) | (16,862) |
Accumulated deficit | (127,635) | (117,856) |
Accumulated other comprehensive gain (loss) | 34 | (1,881) |
Total stockholders’ equity | 23,052 | 30,263 |
Total liabilities and stockholders’ equity | $ 32,858 | $ 42,020 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Allowance for doubtful accounts | $ 504 | $ 484 |
Preferred stock, par value (in dollars per share) | $ 1 | $ 1 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares issued (in shares) | 1,683,000 | 1,683,000 |
Preferred stock, shares outstanding (in shares) | 1,683,000 | 1,683,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, shares issued (in shares) | 15,721,000 | 15,705,000 |
Treasury stock, shares (in shares) | 1,933,000 | 1,931,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Revenues: | ||
Total revenues | $ 35,091 | $ 23,107 |
Cost of sales: | ||
Total cost of sales | 22,116 | 17,085 |
Gross profit | 12,975 | 6,022 |
Operating expenses: | ||
Selling, general and administrative | 15,304 | 14,761 |
Research and development | 3,398 | 3,596 |
Depreciation and amortization | 1,887 | 2,209 |
Total operating expenses | 20,589 | 20,566 |
Operating loss | (7,614) | (14,544) |
Other income: | ||
Other income, net | 882 | 926 |
Total other income | 882 | 926 |
Loss from continuing operations before income taxes | (6,732) | (13,618) |
(Provision) benefit for income taxes | (699) | 39 |
Loss from continuing operations | (7,431) | (13,579) |
Loss from discontinued operations, net of income taxes | (1,401) | (1,506) |
Net loss | (8,832) | (15,085) |
Preferred stock dividends - declared | (947) | (2,901) |
Preferred stock dividends - undeclared | (2,841) | 0 |
Net loss attributable to common stockholders | $ (12,620) | $ (17,986) |
Net loss per common share - Basic | ||
Continuing operations (in dollars per share) | $ (0.82) | $ (1.20) |
Discontinued operations (in dollars per share) | (0.10) | (0.11) |
Net loss (in dollars per share) | (0.92) | (1.31) |
Net loss per common share - Diluted | ||
Continuing operations (in dollars per share) | (0.82) | (1.20) |
Discontinued operations (in dollars per share) | (0.10) | (0.11) |
Net loss (in dollars per share) | $ (0.92) | $ (1.31) |
Shares used in computing loss per common share: | ||
Basic (in shares) | 13,784 | 13,771 |
Diluted (in shares) | 13,784 | 13,771 |
Marine Technology Products [Member] | ||
Revenues: | ||
Total revenues | $ 35,091 | $ 23,107 |
Cost of sales: | ||
Total cost of sales | $ 22,116 | $ 17,085 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Net loss | $ (8,832) | $ (15,085) |
Change in cumulative translation adjustment for liquidation of entities held for sale | 1,915 | 2,451 |
Other changes in cumulative translation adjustment | 0 | 24 |
Comprehensive loss | $ (6,917) | $ (12,610) |
Consolidated Statements of Chan
Consolidated Statements of Change in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | Preferred Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock, Common and Preferred [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances (in shares) at Jan. 31, 2021 | 15,681 | 1,038 | |||||
Balances at Jan. 31, 2021 | $ 157 | $ 23,104 | $ 128,241 | $ (16,860) | $ (99,870) | $ (4,356) | $ 30,416 |
Net loss | 0 | 0 | 0 | (15,085) | 0 | (15,085) | |
Foreign currency translation | $ 0 | 0 | 0 | 0 | 0 | 2,475 | 2,475 |
Restricted stock issued (in shares) | 5 | ||||||
Restricted stock issued | $ 0 | 0 | 11 | 0 | 0 | 0 | 11 |
Restricted stock forfeited for taxes | $ 0 | $ 0 | 0 | (2) | 0 | 0 | (2) |
Stock offerings (in shares) | 19 | 645 | |||||
Stock offerings | $ 0 | $ 14,675 | 0 | 0 | 0 | 0 | 14,675 |
Preferred stock dividends | 0 | 0 | 0 | 0 | (2,901) | 0 | (2,901) |
Stock offerings | 0 | 0 | 42 | 0 | 0 | 0 | 42 |
Stock-based compensation | $ 0 | $ 0 | 632 | 0 | 0 | 0 | 632 |
Balances (in shares) at Jan. 31, 2022 | 15,705 | 1,683 | |||||
Balances at Jan. 31, 2022 | $ 157 | $ 37,779 | 128,926 | (16,862) | (117,856) | (1,881) | 30,263 |
Net loss | 0 | 0 | 0 | 0 | (8,832) | 0 | (8,832) |
Foreign currency translation | 0 | 0 | 0 | 0 | 0 | 1,915 | 1,915 |
Restricted stock issued | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Restricted stock forfeited for taxes | 0 | 0 | 0 | (1) | 0 | 0 | (1) |
Preferred stock dividends | 0 | 0 | 0 | 0 | (947) | 0 | (947) |
Stock-based compensation | $ 0 | $ 0 | 654 | 0 | 0 | 0 | 654 |
Balances (in shares) at Jan. 31, 2023 | 15,721 | 1,683 | |||||
Balances at Jan. 31, 2023 | $ 157 | $ 37,779 | $ 129,580 | $ (16,863) | $ (127,635) | $ 34 | $ 23,052 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (8,832) | $ (15,085) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
PPP loan forgiveness | 0 | (850) |
Depreciation and amortization | 1,887 | 2,214 |
Stock-based compensation | 654 | 643 |
Non-cash cumulative translation adjustment for discontinued operations | 1,626 | 0 |
(Recovery) provision for doubtful accounts, net of charge offs | 0 | (453) |
Provision for inventory obsolescence | 445 | 921 |
Deferred tax benefit | (62) | (106) |
Changes in: | ||
Accounts receivable | 4,890 | (3,195) |
Unbilled revenue | (26) | (57) |
Inventories | (1,756) | (3,074) |
Income taxes receivable and payable | 441 | 37 |
Accounts payable, accrued expenses and other current liabilities | 775 | 713 |
Prepaid expenses and other current and long-term assets | (10) | (565) |
Deferred revenue | (1,998) | 1,878 |
Net cash used in operating activities | (2,905) | (17,134) |
Cash flows from investing activities: | ||
Cost incurred to develop technology | (12) | 0 |
Purchases of property and equipment | (570) | (834) |
Sale of assets held for sale | 1,052 | 5,437 |
Sale of business, net of cash sold | 0 | 761 |
Net cash provided by investing activities | 470 | 5,364 |
Cash flows from financing activities: | ||
Net proceeds from preferred stock offering | 0 | 14,676 |
Net proceeds from common stock offering | 0 | 43 |
Repurchase of common stock | (1) | (2) |
Preferred stock dividends | (1,894) | (2,530) |
Net cash (used in) provided by financing activities | (1,895) | 12,187 |
Effect of changes in foreign exchange rates on cash and cash equivalents | (6) | 86 |
Net (decrease) increase in cash and cash equivalents | (4,336) | 503 |
Cash and cash equivalents, beginning of period | 5,114 | 4,611 |
Cash and cash equivalents, end of period | 778 | 5,114 |
Lease Pool Equipment [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gross profit from sale of equipment | (1,052) | 0 |
Other Machinery and Equipment [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gross profit from sale of equipment | $ 113 | $ (155) |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 1. Going Concern 4, may not not may not Organization 1987. July 31, 2020, July 31, 2020, 2 Correction of Comprehensive Loss January 31, 2022, Revenue Recognition of Marine Product Sales Revenue Recognition of Long-term Projects three twelve Revenue Recognition of Repair Services and Equipment Upgrades Revenue Recognition of Service Agreements 12 may 12 no 2023 2022 not not Revenue Recognition of Leasing Arrangements no January 31, 2023 January 31, 2022. not July 31, 2020, 2 Allowance for Doubtful Accounts not may not Cash and Cash Equivalents three Short-term Investments three twelve Inventories may Property and Equipment three seven No Intangible Assets not eight eight ten Impairment may not . not not not Product Warranties three twelve 2023 2022, not Income Taxes The weight given to the potential effect of positive and negative evidence is commensurate with the extent to which it can be objectively verified. The preponderance of negative or positive evidence supports a conclusion regarding the need for a valuation allowance for some portion, or all, of the deferred tax asset. The more significant types of evidence considered include the following: • projected taxable income in future years; • our history of taxable income within a particular jurisdiction; • any history of deferred tax assets expiring prior to realization; • whether the carry forward period is so brief that it would limit realization of tax benefits; • other limitations on the utilization of tax benefits; • future sales and operating cost projections that will produce more than enough taxable income to realize the deferred tax asset based on existing sales prices and cost structures; • our earnings history exclusive of the loss that created the future deductible amount coupled with evidence indicating that the loss is an aberration rather than a continuing condition; and • tax planning strategies that will create additional taxable income. Employee retention credit (ERC) 70% first ten thousand January 1, 2021, June 30, 2021. 2020, 20% 2019. 500 2019, not fourth 2023 Use of Estimates not Substantial judgment is necessary in the determination of the appropriate levels for the Company’s allowance for doubtful accounts because of the extended payment terms the Company offers to its customers on occasion and the limited financial wherewithal of certain of these customers. As a result, the Company’s allowance for doubtful accounts could change in the future, and such change could be material to the financial statements taken as a whole. The Company must also make substantial judgments regarding the valuation allowance on deferred tax assets and with respect to quantitative analysis prepared in conjunction with impairment analysis related to intangible assets. Fair Value of Financial Instruments The Financial Accounting Standards Board (“FASB”) has issued guidance on the definition of fair value, the framework for using fair value to measure assets hierarchy, which prioritizes the inputs used to measure fair value. These tiers include: • Level 1: • Level 2: 1, 2 • Level 3: may The Company measures the fair values of intangibles and other long-lived assets on a non-recurring basis if required by impairment tests applicable to these assets. Based on the results of our qualitative reviews, no 2023 2022. Foreign Currency Translation 2023 2022 Leases not Operating lease right-of-use assets represent a right to use an underlying asset for the lease term and operating lease right-of-use liabilities represent an obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term and use an implicit rate when readily available. Since most of the Company’s leases do not Stock-Based Compensation Earnings Per Share 2023 2022, may Year Ended January 31, 2023 2022 (in thousands) Stock options — 37 Restricted stock — 13 Total dilutive shares — 50 For fiscal 2023 2022, not |
Note 2 - Assets Held for Sale a
Note 2 - Assets Held for Sale and Discontinued Operations | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 2. On July 27, 2020, January 31, 2023 2022 twelve July 31, 2021. January 31, 2023, The assets reported as held for sale consist of the following: As of January 31, 2023 2022 Current assets of discontinued operations: (in thousands) Accounts receivable, net — 177 Inventories, net — 2 Prepaid expenses and other current assets — 167 Seismic equipment lease pool and property and equipment, net — 738 Loss recognized on classification as held for sale — (925 ) Total assets of discontinued operations $ — $ 159 The liabilities reported as held for sale consist of the following: As of January 31, 2023 2022 Current liabilities of discontinued operations: (in thousands) Accounts payable $ — $ 132 Deferred revenue — 73 Accrued expenses and other current liabilities — 507 Income taxes payable — 241 Total liabilities of discontinued operations $ — $ 953 The results of operations from discontinued operations for the twelve January 31, 2023 2022 Twelve Months Ended January 31, 2023 2022 Revenues: (in thousands) Revenue from discontinued operations $ — $ 878 Cost of sales: Cost of discontinued operations 91 993 Operating expenses: Selling, general and administrative 765 1,622 (Recovery) provision for doubtful accounts — (450 ) Depreciation and amortization — 5 Total operating expenses 765 1,177 Operating loss (856 ) (1,292 ) Other (expense) income (545 ) 93 Loss before income taxes from discontinued operations (1,401 ) (1,199 ) Provision for income taxes from discontinued operations — (307 ) Net loss from discontinued operations (1,401 ) (1,506 ) The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below: As of January 31, 2023 2022 (in thousands) Depreciation and amortization $ — $ 5 (Recovery) provisions for doubtful accounts $ — $ (450 ) Sale of assets held for sale $ 1,052 $ 6,198 |
Note 3 - New Accounting Pronoun
Note 3 - New Accounting Pronouncements | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 3. The Company has not no |
Note 4 - Going Concern and Subs
Note 4 - Going Concern and Subsequent Event | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Liquidation Basis of Accounting [Text Block] | 4. On February 2, 2023, February 1, 2024, may The Loan is secured by mortgages on certain real estate owned by the Borrowers. The Loan contains terms customary with this type of transaction including representations, warranties, covenants, and reporting requirements. The Company has a history of generating operating losses and negative cash from operating activities and has relied on cash from the sale of lease pool equipment and the sale of Preferred Stock and Common Stock for the past several years. As of January 31, 2023, no The above factors create substantial doubt regarding the Company’s future financial results and liquidity. As such, there is substantial doubt as to the Company’s ability to continue as a going concern. Management has identified the following mitigating factors regarding adequate liquidity and capital resources to meet its obligations: • The Company has no • The Company has working capital of approximately $13.3 January 31, 2023 • Should revenues be less than projected, the Company believes it is able, and has plans in place, to reduce costs proportionately in an effort to maintain positive cash flow. • The majority of the Company’s costs are variable in nature, such as raw materials and personnel related costs. The Company has recently eliminated two • The Company has a backlog of orders of approximately $20.7 million as of January 31, 2023 58% January 31, 2022. January 31, 2023 • The Company declared and paid the quarterly dividend on its Preferred Stock for the first 2023, 2022, third fourth 2023 first 2024. not six two Notwithstanding the mitigating factors identified by management, there remains substantial doubt regarding the Company’s ability to meet its obligations as they arise over the next twelve |
Note 5 - Revenue From Contracts
Note 5 - Revenue From Contracts With Customers | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 5. The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition: Twelve Months Ended January 31, 2023 2022 Revenue recognized at a point in time: (in thousands) Seamap $ 22,544 $ 16,422 Klein 6,379 5,428 Total revenue recognized at a point in time $ 28,923 $ 21,850 Revenue recognized over time: Seamap $ 2,468 $ 871 Klein $ 3,700 $ 386 Total revenue recognized over time 6,168 1,257 Total revenue from contracts with customers $ 35,091 $ 23,107 The revenue from products manufactured and sold by our Seamap and Klein businesses, is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. However, from time to time our Seamap and Klein businesses provide repair and maintenance services, or perform upgrades, on customer owned equipment in which case revenue is recognized over time. In addition, our Seamap business provides annual Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract. The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers: Twelve Months Ended January 31, 2023 2022 Revenue from contracts with customers: (in thousands) United States $ 6,918 $ 2,409 Europe 14,814 8,821 Asia-Pacific 12,876 11,244 Other 483 633 Total revenue from contracts with customers $ 35,091 $ 23,107 As of January 31, 2023 2022 January 31, 2023 January 31, 2022 Contract Assets: (in thousands) Unbilled revenue-current $ 2 $ 28 Total unbilled revenue $ 2 $ 28 Contract Liabilities: Deferred revenue & customer deposits - current $ 571 $ 2,569 Total deferred revenue & customer deposits $ 571 $ 2,569 Considering the products manufactured and sold by our Seamap and Klein businesses and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a three six With respect to the disclosures above, sales and transaction-based taxes are excluded from revenue, and we do not one one |
Note 6 - Supplemental Statement
Note 6 - Supplemental Statements of Cash Flows Information | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 6. Supplemental disclosures of cash flows information for fiscal 2023 2022 Year Ended January 31, 2023 2022 Interest paid $ 4 $ 31 Income taxes paid, net 371 355 |
Note 7 - Inventories
Note 7 - Inventories | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. Inventories from continuing operations consisted of the following (in thousands): As of January 31, 2023 2022 Raw materials $ 8,480 $ 8,511 Finished goods 4,156 3,806 Work in progress 4,422 3,567 Cost of inventories 17,058 15,884 Less allowance for obsolescence (1,740 ) (1,878 ) Net inventories $ 15,318 $ 14,006 |
Note 8 - Accounts Receivables
Note 8 - Accounts Receivables | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | 8. Accounts receivables from continuing operations consisted of the following (in thousands): As of January 31, 2023 As of January 31, 2022 Current Long-term Total Current Long-term Total Accounts receivable $ 4,497 $ — $ 4,497 $ 8,610 $ 650 $ 9,260 Less allowance for doubtful accounts (504 ) — (504 ) (484 ) — (484 ) Accounts receivable net of allowance for doubtful accounts $ 3,993 $ — $ 3,993 $ 8,126 $ 650 $ 8,776 * the long-term balance of accounts receivable is recorded in Other Assets. |
Note 9 - Property and Equipment
Note 9 - Property and Equipment | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 9. Property and equipment from continuing operations consisted of the following (in thousands) As of January 31, 2023 2022 Furniture and fixtures 9,896 9,865 Autos and trucks 358 495 Marine seismic service equipment — 3,880 Land and buildings 4,880 4,555 Cost of property and equipment 15,134 18,795 Less accumulated depreciation (11,189 ) (14,523 ) Net book value of property and equipment $ 3,945 $ 4,272 Depreciation expense on property, plant and equipment was approximately $806,000 for fiscal 2023 2022 Location of property and equipment (in thousands): As of January 31, 2023 2022 United States $ 3,166 $ 3,068 Europe 44 46 Singapore 154 332 Malaysia 581 826 Net book value of property and equipment $ 3,945 $ 4,272 |
Note 10 - Leases
Note 10 - Leases | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 10. The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Hungary, Singapore, Malaysia and United Kingdom. We negotiated the termination of our Colombia lease obligation during the prior fiscal year and our lease obligation in Canada was terminated as of March 31, 2022. Lease expense for the twelve January 31, 2023 2022 twelve January 31, 2023 2022 Supplemental balance sheet information related to leases as of January 31, 2023 2022 As of January 31, Lease 2023 2022 Assets Operating lease assets $ 1,749 $ 1,835 Liabilities Operating lease liabilities $ 1,749 $ 1,835 Classification of lease liabilities Current liabilities $ 903 $ 869 Non-current liabilities 846 966 Total Operating lease liabilities $ 1,749 $ 1,835 Lease-term and discount rate details as of January 31, 2023 2022 As of January 31, Lease term and discount rate 2023 2022 Weighted average remaining lease term (years) Operating leases 1.98 1.82 Weighted average discount rate: Operating leases 13 % 13 % Supplemental cash flow information related to leases on January 31, 2023 2022 As of January 31, Lease 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (858 ) $ (1,196 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 819 $ 772 Maturities of lease liabilities on January 31, 2023 2022 As of January 31, 2023 2022 2023 $ 903 $ 869 2024 574 547 2025 274 285 2026 188 211 2027 188 188 Thereafter 16 204 Total payments under lease agreements $ 2,143 $ 2,304 Less: imputed interest (394 ) (469 ) Total lease liabilities $ 1,749 $ 1,835 Prior to July 31, 2020, one not may not January 31, 2023 2022 not |
Note 11 - Intangible Assets
Note 11 - Intangible Assets | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 11. Intangible assets from continuing operations consisted of the following: January 31, 2023 January 31, 2022 Weighted Average Gross Net Gross Net Life at Carrying Accumulated Carrying Carrying Accumulated Carrying 1/31/2023 Amount Amortization Impairment Amount Amount Amortization Impairment Amount (in thousands) (in thousands) Proprietary rights 5.1 $ 8,238 $ (4,606 ) — 3,632 $ 8,237 $ (4,150 ) — 4,087 Customer relationships 0.2 5,024 (4,894 ) — 130 5,024 (4,797 ) — 227 Patents 2.0 2,540 (2,027 ) — 513 2,540 (1,778 ) — 762 Trade name 3.3 894 (97 ) (760 ) 37 894 (85 ) (760 ) 49 Developed technology 2.9 1,430 (1,013 ) — 417 1,430 (870 ) — 560 Other 1.3 705 (503 ) — 202 694 (361 ) — 333 Amortizable intangible assets $ 18,831 $ (13,140 ) $ (760 ) $ 4,931 $ 18,819 $ (12,041 ) $ (760 ) $ 6,018 Approximately $923,000 of the gross carrying amount of intangible assets, primarily in proprietary rights, are related to technology development projects that have not not not 2023 2022. Aggregate amortization expense was $1.1 million and $1.3 million for fiscal 2023 2022, January 31, 2023 For fiscal year ending January 31: 2024 $ 704 2025 839 2026 608 2027 506 2028 267 Thereafter 1,084 Total $ 4,008 |
Note 12 - Accrued Expenses and
Note 12 - Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 12. Accrued expenses and other current liabilities from continuing operations consisted of the following (in thousands): As of January 31, 2023 2022 Wages and benefits 906 556 Customer deposits 407 2,601 Accrued inventory 306 900 Accrued preferred stock dividend — 947 Other 628 758 Accrued Expenses and Other Liabilities $ 2,247 $ 5,762 |
Note 13 - Notes Payable
Note 13 - Notes Payable | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | 13. On May 5, 2020, March 27, 2020. The Loan, in the form of promissory note (the “Note”) dated May 1, 2020 May 1, 2022 1% November 1, 2020. no Under the terms of the PPP, funds from the Loan could only be used for payroll costs, rent, utilities and interest on other debt obligations incurred prior to February 15, 2020. In February 2021, |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 14. Equity The Company has 2,000,000 shares of Preferred Stock authorized. The Preferred Stock may January 31, 2023 2022, 1,682,985 January, April, July October may not June 8, 2021, June 8, 2021, may not not no not no six The Company has 40,000,000 shares of Common Stock authorized, of which 15,721,000 and 15,705,000 were issued as of January 31, 2023 2022 January 31, 2023 2022 During fiscal 2023, 2022, 1,100 |
Note 15 - Related Party Transac
Note 15 - Related Party Transaction | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 15. In September 2020, may On November 12, 2021, November 9, 2021, no For the twelve January 31, 2023 twelve January 31, 2022 twelve January 31, 2022 no For the twelve January 31, 2023 twelve January 31, 2022 twelve January 31, 2022 no |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 16. Year Ended January 31, 2023 2022 (in thousands) Loss from continuing operations before income taxes is attributable to the following jurisdictions: Domestic $ (10,446 ) $ (11,618 ) Foreign 3,714 (2,000 ) Total $ (6,732 ) $ (13,618 ) The components of income tax expense (benefit) for continuing operations were as follows: Current: Domestic $ 19 $ 27 Foreign 743 40 762 67 Deferred: Domestic — — Foreign (63 ) (106 ) (63 ) (106 ) Income tax (benefit) expense $ 699 $ (39 ) The following is a reconciliation of expected to actual income tax expense (benefit) for continuing operations: Year Ended January 31, 2023 2022 (in thousands) Federal income tax at 21 $ (1,414 ) $ (2,860 ) Changes in tax rates — — Permanent differences 363 (144 ) Foreign effective tax rate differential (53 ) (8 ) Valuation allowance on deferred tax assets 1,690 2,931 Excess tax deficiency for share-based payments under ASU 2016-09 133 13 Other (20 ) 29 $ 699 $ (39 ) The components of the Company’s deferred taxes for continuing operations consisted of the following: As of January 31, 2023 2022 (in thousands) Deferred tax assets: Net operating losses $ 23,019 $ 20,282 Tax credit carry forwards 184 165 Stock option book expense 857 833 Allowance for doubtful accounts 145 102 Inventory 1,383 835 Accruals not yet deductible for tax purposes 83 130 Fixed assets 265 289 Intangible assets 411 391 Other 585 623 Gross deferred tax assets 26,932 23,650 Valuation allowance (26,932 ) (23,650 ) Deferred tax assets — — Deferred tax liabilities: Other (29 ) (92 ) Deferred tax liabilities (29 ) (92 ) Unrecognized tax benefits — — Total deferred tax liabilities, net (29 ) $ (92 ) On August 16, 2022, 2% not The Company has determined that, due to the potential requirement for additional investment and working capital to achieve its objectives, the undistributed earnings of foreign subsidiaries as of January 31, 2023 not not January 31, 2023 Included in deferred tax assets is approximately $857,000 related to stock-based compensation, including non-qualified stock options. Recent market prices for the Company’s Common Stock remain below the exercise price of a number of options outstanding as of January 31, 2023 718 740 10, not As of January 31, 2023 not On January 31, 2023 2026. As of January 31, 2023 2022 The Company recognizes interest and penalties related to income tax matters as a component of income tax expense. The Company files U.S. federal income tax returns as well as separate returns for its foreign subsidiaries within their local jurisdictions. The Company’s U.S. federal tax returns are subject to examination by the IRS for fiscal years ended January 31, 2019, 2023 may January 31, 2017, 2023 January 31, 2017, 2023 January 31, 2018 January 31, 2023 |
Note 17 - Commitments and Conti
Note 17 - Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 17. Contractual Obligations 2021 January 31, 2023 2022 Purchase Obligations January 31, 2023 |
Note 18 - Stock Option Plans
Note 18 - Stock Option Plans | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 18. At January 31, 2023 2023 2022 The fair value of each option award is estimated as of the date of grant using a Black-Scholes-Merton option pricing formula. Expected volatility is based on historical volatility of the Company’s stock over a preceding period commensurate with the expected term of the option. The expected term is based upon historical exercise patterns. The risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected dividend yield was not not not 2023 2022 Weighted average Black-Scholes-Merton fair value assumptions Year Ended January 31, 2023 2022 Risk free interest rate 2.69% - 3.03% 0.72% - 0.72% Expected life (in years) 5.50 - 6.50 3.97 - 5.97 Expected volatility 68% -70% 63% - 63% Expected dividend yield 0.00 % 0.00 % Cash flows resulting from tax benefits attributable to tax deductions in excess of the compensation expense recognized for those options (excess tax benefits) are classified as financing out-flows and operating in-flows. The Company had no excess tax benefits during fiscal 2023 2022. The Company has share-based awards outstanding under, the MIND Technology, Inc. Stock Awards Plan (“the Plan”). Stock options granted and outstanding under the Plan generally vest evenly over three January 31, 2023 Stock Based Compensation Activity The following table presents a summary of the Company’s stock option activity for the fiscal year ended January 31, 2023 Weighted Average Weighted Remaining Aggregate Number of Average Contractual Intrinsic Shares Exercise Term Value (in thousands) Price (in years) (in thousands) Outstanding, January 31, 2022 3,425 $ 3.53 6.58 $ 100 Granted 895 0.81 Exercised — — Forfeited — — Expired (225 ) 5.30 Outstanding, January 31, 2023 4,095 $ 2.84 5.91 $ — Exercisable at January 31, 2023 2,693 $ 3.68 4.25 $ — Nonvested at January 31, 2023 1,402 $ 1.23 9.11 $ — The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value (the difference between the Company’s closing stock price on the last trading day of the fourth 2023 January 31, 2023 2023 2022. January 31, 2023 2022 2023 2022 As of January 31, 2023 Restricted stock as of January 31, 2023 2023 Year Ended January 31, 2023 Number of Weighted Average Shares Grant Date Fair (in thousands) Value Unvested, beginning of period 19 $ 2.51 Granted 11 1.00 Vested (19 ) 2.51 Canceled — — Unvested, end of period 11 $ 1.00 As of January 31, 2023 |
Note 19 - Segment Reporting
Note 19 - Segment Reporting | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 19. Historically, we reported two January 31, 2023, two second 2021, 2 Prior to the year ended January 31, 2023, 280, January 31, 2023, 280, January 31, 2022, Our Seamap Marine Products business is engaged in the design, manufacture and sale of specialized marine seismic equipment. Manufacturing, support and sales facilities are maintained in the United Kingdom, Singapore, Malaysia and the state of Texas. Our Klein Marine Products business is engaged in the design, manufacture and sale of high performance side scan sonar and water-side security systems. Manufacturing, support and sales facilities are maintained in the state of New Hampshire. The Company’s two Financial information by business segment is set forth below net of any allocations (in thousands): As of January 31, 2023 As of January 31, 2022 Seamap Marine Products Klein Marine Products Corporate Consolidated Seamap Marine Products Klein Marine Products Corporate Consolidated Accounts Receivable, Net $ 3,245 $ 748 $ — $ 3,993 $ 7,246 $ 880 $ — $ 8,126 Inventories, Net 11,026 4,292 — 15,318 9,508 4,498 — 14,006 Long-lived Assets, Net 5,649 4,480 496 10,625 7,741 3,879 505 12,125 Segment assets 19,920 9,520 496 $ 29,936 24,495 9,257 505 34,257 Other (1) 2,922 7,763 Total Consolidated Assets $ 32,858 $ 42,020 ( 1 Year Ended January 31, 2023 2022 Seamap Marine Products Klein Marine Products Corporate expenses Eliminations Consolidated Seamap Marine Products Klein Marine Products Corporate expenses Eliminations Consolidated Revenues $ 25,012 $ 10,555 $ — $ (476 ) $ 35,091 $ 17,294 $ 5,825 $ — $ (12 ) $ 23,107 Cost of sales 15,537 7,055 — (476 ) 22,116 11,735 5,362 — (12 ) 17,085 Capital expenditures 103 528 — — 631 233 757 — — 990 Depreciation and amortization expense 1,253 543 91 — 1,887 1,591 541 77 — 2,209 Operating income (loss) 2,074 (2,309 ) (7,379 ) — (7,614 ) (4,462 ) (5,263 ) (4,819 ) — (14,544 ) Sales from the Klein Marine Products to the Seamap Marine Products segment are eliminated in consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and the cost to manufacture the equipment. The following table presents a reconciliation of operating income (loss) to loss from continuing operations before income taxes (in thousands): Years Ended January 31, 2023 2022 Seamap Marine Products $ 2,074 $ (4,462 ) Klein Marine Products (2,309 ) (5,263 ) Corporate Expenses (7,379 ) (4,819 ) Operating loss (7,614 ) (14,544 ) Employment Retention Credit 1,004 — Paycheck Protection Plan — 850 Other (122 ) 76 Loss from continuing operations before income taxes $ (6,732 ) $ (13,618 ) |
Note 20 - Concentrations
Note 20 - Concentrations | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 20. Credit Risk January 31, 2023 two 2022 two Revenue Risk 2023 2022, five 2023 2022, The Company maintains deposits and certificates of deposit with banks which may not January 31, 2023 Supplier Concentration may |
Note 21 - Sales and Major Custo
Note 21 - Sales and Major Customers | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 5. The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition: Twelve Months Ended January 31, 2023 2022 Revenue recognized at a point in time: (in thousands) Seamap $ 22,544 $ 16,422 Klein 6,379 5,428 Total revenue recognized at a point in time $ 28,923 $ 21,850 Revenue recognized over time: Seamap $ 2,468 $ 871 Klein $ 3,700 $ 386 Total revenue recognized over time 6,168 1,257 Total revenue from contracts with customers $ 35,091 $ 23,107 The revenue from products manufactured and sold by our Seamap and Klein businesses, is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. However, from time to time our Seamap and Klein businesses provide repair and maintenance services, or perform upgrades, on customer owned equipment in which case revenue is recognized over time. In addition, our Seamap business provides annual Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract. The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers: Twelve Months Ended January 31, 2023 2022 Revenue from contracts with customers: (in thousands) United States $ 6,918 $ 2,409 Europe 14,814 8,821 Asia-Pacific 12,876 11,244 Other 483 633 Total revenue from contracts with customers $ 35,091 $ 23,107 As of January 31, 2023 2022 January 31, 2023 January 31, 2022 Contract Assets: (in thousands) Unbilled revenue-current $ 2 $ 28 Total unbilled revenue $ 2 $ 28 Contract Liabilities: Deferred revenue & customer deposits - current $ 571 $ 2,569 Total deferred revenue & customer deposits $ 571 $ 2,569 Considering the products manufactured and sold by our Seamap and Klein businesses and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a three six With respect to the disclosures above, sales and transaction-based taxes are excluded from revenue, and we do not one one |
Non-US [Member] | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 21. A summary of the Company’s revenues, from continuing operations, from customers by geographic region, outside the U.S., is as follows (in thousands): Year Ended January 31, 2023 2022 Europe $ 14,814 $ 8,821 Asia/South Pacific 12,876 11,244 Other 483 633 Total $ 28,173 $ 20,698 During fiscal year ended January 31, 2023 two January 31, 2022 one |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Jan. 31, 2023 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | SCHEDULE II MIND TECHNOLOGY, INC. VALUATION AND QUALIFYING ACCOUNTS (in thousands) Col. A Col. B Col. C(1) Col. C(2) Col. D Col. E Balance at Charged to Charged Beginning Costs and to Other Deductions Balance at End Description of Period Expenses Accounts Describe of Period Allowance for doubtful accounts January 31, 2023 $ 506 — — (a) — (b) $ 506 January 31, 2022 $ 1,776 (820 ) — (a) (450 ) (b) $ 506 Allowance for obsolete equipment and inventory January 31, 2023 $ 2,418 445 — (a) (1,123 ) (c) $ 1,740 January 31, 2022 $ 1,660 921 — (a) (163 ) (c) $ 2,418 (a) Represents translation differences. (b) Represents recoveries and uncollectible accounts written off. (c) Represents sale or scrap of inventory and obsolete equipment. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2023 | |
Accounting Policies [Abstract] | |
Going Concern [Policy Text Block] | Going Concern 4, may not not may not |
Consolidation, Policy [Policy Text Block] | Organization 1987. July 31, 2020, July 31, 2020, 2 |
Immaterial Correction Of Comprehensive Loss [Policy Text Block] | Correction of Comprehensive Loss January 31, 2022, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition of Marine Product Sales Revenue Recognition of Long-term Projects three twelve Revenue Recognition of Repair Services and Equipment Upgrades Revenue Recognition of Service Agreements 12 may 12 no 2023 2022 not not |
Revenue Recognition, Leases [Policy Text Block] | Revenue Recognition of Leasing Arrangements no January 31, 2023 January 31, 2022. not July 31, 2020, 2 |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts not may not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents three |
Investment, Policy [Policy Text Block] | Short-term Investments three twelve |
Inventory, Policy [Policy Text Block] | Inventories may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment three seven No |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets not eight eight ten |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment may not . not not not |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranties three twelve 2023 2022, not |
Income Tax, Policy [Policy Text Block] | Income Taxes The weight given to the potential effect of positive and negative evidence is commensurate with the extent to which it can be objectively verified. The preponderance of negative or positive evidence supports a conclusion regarding the need for a valuation allowance for some portion, or all, of the deferred tax asset. The more significant types of evidence considered include the following: • projected taxable income in future years; • our history of taxable income within a particular jurisdiction; • any history of deferred tax assets expiring prior to realization; • whether the carry forward period is so brief that it would limit realization of tax benefits; • other limitations on the utilization of tax benefits; • future sales and operating cost projections that will produce more than enough taxable income to realize the deferred tax asset based on existing sales prices and cost structures; • our earnings history exclusive of the loss that created the future deductible amount coupled with evidence indicating that the loss is an aberration rather than a continuing condition; and • tax planning strategies that will create additional taxable income. |
Employee Retention Credit [Policy Text Block] | Employee retention credit (ERC) 70% first ten thousand January 1, 2021, June 30, 2021. 2020, 20% 2019. 500 2019, not fourth 2023 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates not Substantial judgment is necessary in the determination of the appropriate levels for the Company’s allowance for doubtful accounts because of the extended payment terms the Company offers to its customers on occasion and the limited financial wherewithal of certain of these customers. As a result, the Company’s allowance for doubtful accounts could change in the future, and such change could be material to the financial statements taken as a whole. The Company must also make substantial judgments regarding the valuation allowance on deferred tax assets and with respect to quantitative analysis prepared in conjunction with impairment analysis related to intangible assets. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Financial Accounting Standards Board (“FASB”) has issued guidance on the definition of fair value, the framework for using fair value to measure assets hierarchy, which prioritizes the inputs used to measure fair value. These tiers include: • Level 1: • Level 2: 1, 2 • Level 3: may The Company measures the fair values of intangibles and other long-lived assets on a non-recurring basis if required by impairment tests applicable to these assets. Based on the results of our qualitative reviews, no 2023 2022. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation 2023 2022 |
Lessee, Leases [Policy Text Block] | Leases not Operating lease right-of-use assets represent a right to use an underlying asset for the lease term and operating lease right-of-use liabilities represent an obligation to make lease payments arising from the lease. Operating lease right-of-use assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term and use an implicit rate when readily available. Since most of the Company’s leases do not |
Share-Based Payment Arrangement [Policy Text Block] | Stock-Based Compensation |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share 2023 2022, may Year Ended January 31, 2023 2022 (in thousands) Stock options — 37 Restricted stock — 13 Total dilutive shares — 50 For fiscal 2023 2022, not |
Note 1 - Organization and Sum_2
Note 1 - Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended January 31, 2023 2022 (in thousands) Stock options — 37 Restricted stock — 13 Total dilutive shares — 50 |
Note 2 - Assets Held for Sale_2
Note 2 - Assets Held for Sale and Discontinued Operations (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | As of January 31, 2023 2022 Current assets of discontinued operations: (in thousands) Accounts receivable, net — 177 Inventories, net — 2 Prepaid expenses and other current assets — 167 Seismic equipment lease pool and property and equipment, net — 738 Loss recognized on classification as held for sale — (925 ) Total assets of discontinued operations $ — $ 159 As of January 31, 2023 2022 Current liabilities of discontinued operations: (in thousands) Accounts payable $ — $ 132 Deferred revenue — 73 Accrued expenses and other current liabilities — 507 Income taxes payable — 241 Total liabilities of discontinued operations $ — $ 953 Twelve Months Ended January 31, 2023 2022 Revenues: (in thousands) Revenue from discontinued operations $ — $ 878 Cost of sales: Cost of discontinued operations 91 993 Operating expenses: Selling, general and administrative 765 1,622 (Recovery) provision for doubtful accounts — (450 ) Depreciation and amortization — 5 Total operating expenses 765 1,177 Operating loss (856 ) (1,292 ) Other (expense) income (545 ) 93 Loss before income taxes from discontinued operations (1,401 ) (1,199 ) Provision for income taxes from discontinued operations — (307 ) Net loss from discontinued operations (1,401 ) (1,506 ) As of January 31, 2023 2022 (in thousands) Depreciation and amortization $ — $ 5 (Recovery) provisions for doubtful accounts $ — $ (450 ) Sale of assets held for sale $ 1,052 $ 6,198 |
Note 5 - Revenue From Contrac_2
Note 5 - Revenue From Contracts With Customers (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Twelve Months Ended January 31, 2023 2022 Revenue recognized at a point in time: (in thousands) Seamap $ 22,544 $ 16,422 Klein 6,379 5,428 Total revenue recognized at a point in time $ 28,923 $ 21,850 Revenue recognized over time: Seamap $ 2,468 $ 871 Klein $ 3,700 $ 386 Total revenue recognized over time 6,168 1,257 Total revenue from contracts with customers $ 35,091 $ 23,107 Twelve Months Ended January 31, 2023 2022 Revenue from contracts with customers: (in thousands) United States $ 6,918 $ 2,409 Europe 14,814 8,821 Asia-Pacific 12,876 11,244 Other 483 633 Total revenue from contracts with customers $ 35,091 $ 23,107 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | January 31, 2023 January 31, 2022 Contract Assets: (in thousands) Unbilled revenue-current $ 2 $ 28 Total unbilled revenue $ 2 $ 28 Contract Liabilities: Deferred revenue & customer deposits - current $ 571 $ 2,569 Total deferred revenue & customer deposits $ 571 $ 2,569 |
Note 6 - Supplemental Stateme_2
Note 6 - Supplemental Statements of Cash Flows Information (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | Year Ended January 31, 2023 2022 Interest paid $ 4 $ 31 Income taxes paid, net 371 355 |
Note 7 - Inventories (Tables)
Note 7 - Inventories (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | As of January 31, 2023 2022 Raw materials $ 8,480 $ 8,511 Finished goods 4,156 3,806 Work in progress 4,422 3,567 Cost of inventories 17,058 15,884 Less allowance for obsolescence (1,740 ) (1,878 ) Net inventories $ 15,318 $ 14,006 |
Note 8 - Accounts Receivables (
Note 8 - Accounts Receivables (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | As of January 31, 2023 As of January 31, 2022 Current Long-term Total Current Long-term Total Accounts receivable $ 4,497 $ — $ 4,497 $ 8,610 $ 650 $ 9,260 Less allowance for doubtful accounts (504 ) — (504 ) (484 ) — (484 ) Accounts receivable net of allowance for doubtful accounts $ 3,993 $ — $ 3,993 $ 8,126 $ 650 $ 8,776 * the long-term balance of accounts receivable is recorded in Other Assets. |
Note 9 - Property and Equipme_2
Note 9 - Property and Equipment (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of January 31, 2023 2022 Furniture and fixtures 9,896 9,865 Autos and trucks 358 495 Marine seismic service equipment — 3,880 Land and buildings 4,880 4,555 Cost of property and equipment 15,134 18,795 Less accumulated depreciation (11,189 ) (14,523 ) Net book value of property and equipment $ 3,945 $ 4,272 |
Schedule Of Property Plant And Equipment By Geographic Area [Table Text Block] | As of January 31, 2023 2022 United States $ 3,166 $ 3,068 Europe 44 46 Singapore 154 332 Malaysia 581 826 Net book value of property and equipment $ 3,945 $ 4,272 |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Assets and Liabilities, Lessee [Table Text Block] | As of January 31, Lease 2023 2022 Assets Operating lease assets $ 1,749 $ 1,835 Liabilities Operating lease liabilities $ 1,749 $ 1,835 Classification of lease liabilities Current liabilities $ 903 $ 869 Non-current liabilities 846 966 Total Operating lease liabilities $ 1,749 $ 1,835 |
Lease, Cost [Table Text Block] | As of January 31, Lease term and discount rate 2023 2022 Weighted average remaining lease term (years) Operating leases 1.98 1.82 Weighted average discount rate: Operating leases 13 % 13 % As of January 31, Lease 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (858 ) $ (1,196 ) Right-of-use assets obtained in exchange for lease liabilities: Operating leases $ 819 $ 772 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | As of January 31, 2023 2022 2023 $ 903 $ 869 2024 574 547 2025 274 285 2026 188 211 2027 188 188 Thereafter 16 204 Total payments under lease agreements $ 2,143 $ 2,304 Less: imputed interest (394 ) (469 ) Total lease liabilities $ 1,749 $ 1,835 |
Note 11 - Intangible Assets (Ta
Note 11 - Intangible Assets (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | January 31, 2023 January 31, 2022 Weighted Average Gross Net Gross Net Life at Carrying Accumulated Carrying Carrying Accumulated Carrying 1/31/2023 Amount Amortization Impairment Amount Amount Amortization Impairment Amount (in thousands) (in thousands) Proprietary rights 5.1 $ 8,238 $ (4,606 ) — 3,632 $ 8,237 $ (4,150 ) — 4,087 Customer relationships 0.2 5,024 (4,894 ) — 130 5,024 (4,797 ) — 227 Patents 2.0 2,540 (2,027 ) — 513 2,540 (1,778 ) — 762 Trade name 3.3 894 (97 ) (760 ) 37 894 (85 ) (760 ) 49 Developed technology 2.9 1,430 (1,013 ) — 417 1,430 (870 ) — 560 Other 1.3 705 (503 ) — 202 694 (361 ) — 333 Amortizable intangible assets $ 18,831 $ (13,140 ) $ (760 ) $ 4,931 $ 18,819 $ (12,041 ) $ (760 ) $ 6,018 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For fiscal year ending January 31: 2024 $ 704 2025 839 2026 608 2027 506 2028 267 Thereafter 1,084 Total $ 4,008 |
Note 12 - Accrued Expenses an_2
Note 12 - Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Other Current Liabilities [Table Text Block] | As of January 31, 2023 2022 Wages and benefits 906 556 Customer deposits 407 2,601 Accrued inventory 306 900 Accrued preferred stock dividend — 947 Other 628 758 Accrued Expenses and Other Liabilities $ 2,247 $ 5,762 |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Year Ended January 31, 2023 2022 (in thousands) Loss from continuing operations before income taxes is attributable to the following jurisdictions: Domestic $ (10,446 ) $ (11,618 ) Foreign 3,714 (2,000 ) Total $ (6,732 ) $ (13,618 ) The components of income tax expense (benefit) for continuing operations were as follows: Current: Domestic $ 19 $ 27 Foreign 743 40 762 67 Deferred: Domestic — — Foreign (63 ) (106 ) (63 ) (106 ) Income tax (benefit) expense $ 699 $ (39 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended January 31, 2023 2022 (in thousands) Federal income tax at 21 $ (1,414 ) $ (2,860 ) Changes in tax rates — — Permanent differences 363 (144 ) Foreign effective tax rate differential (53 ) (8 ) Valuation allowance on deferred tax assets 1,690 2,931 Excess tax deficiency for share-based payments under ASU 2016-09 133 13 Other (20 ) 29 $ 699 $ (39 ) |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | As of January 31, 2023 2022 (in thousands) Deferred tax assets: Net operating losses $ 23,019 $ 20,282 Tax credit carry forwards 184 165 Stock option book expense 857 833 Allowance for doubtful accounts 145 102 Inventory 1,383 835 Accruals not yet deductible for tax purposes 83 130 Fixed assets 265 289 Intangible assets 411 391 Other 585 623 Gross deferred tax assets 26,932 23,650 Valuation allowance (26,932 ) (23,650 ) Deferred tax assets — — Deferred tax liabilities: Other (29 ) (92 ) Deferred tax liabilities (29 ) (92 ) Unrecognized tax benefits — — Total deferred tax liabilities, net (29 ) $ (92 ) |
Note 18 - Stock Option Plans (T
Note 18 - Stock Option Plans (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Share-Based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Year Ended January 31, 2023 2022 Risk free interest rate 2.69% - 3.03% 0.72% - 0.72% Expected life (in years) 5.50 - 6.50 3.97 - 5.97 Expected volatility 68% -70% 63% - 63% Expected dividend yield 0.00 % 0.00 % |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Average Weighted Remaining Aggregate Number of Average Contractual Intrinsic Shares Exercise Term Value (in thousands) Price (in years) (in thousands) Outstanding, January 31, 2022 3,425 $ 3.53 6.58 $ 100 Granted 895 0.81 Exercised — — Forfeited — — Expired (225 ) 5.30 Outstanding, January 31, 2023 4,095 $ 2.84 5.91 $ — Exercisable at January 31, 2023 2,693 $ 3.68 4.25 $ — Nonvested at January 31, 2023 1,402 $ 1.23 9.11 $ — |
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block] | Year Ended January 31, 2023 Number of Weighted Average Shares Grant Date Fair (in thousands) Value Unvested, beginning of period 19 $ 2.51 Granted 11 1.00 Vested (19 ) 2.51 Canceled — — Unvested, end of period 11 $ 1.00 |
Note 19 - Segment Reporting (Ta
Note 19 - Segment Reporting (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | As of January 31, 2023 As of January 31, 2022 Seamap Marine Products Klein Marine Products Corporate Consolidated Seamap Marine Products Klein Marine Products Corporate Consolidated Accounts Receivable, Net $ 3,245 $ 748 $ — $ 3,993 $ 7,246 $ 880 $ — $ 8,126 Inventories, Net 11,026 4,292 — 15,318 9,508 4,498 — 14,006 Long-lived Assets, Net 5,649 4,480 496 10,625 7,741 3,879 505 12,125 Segment assets 19,920 9,520 496 $ 29,936 24,495 9,257 505 34,257 Other (1) 2,922 7,763 Total Consolidated Assets $ 32,858 $ 42,020 Year Ended January 31, 2023 2022 Seamap Marine Products Klein Marine Products Corporate expenses Eliminations Consolidated Seamap Marine Products Klein Marine Products Corporate expenses Eliminations Consolidated Revenues $ 25,012 $ 10,555 $ — $ (476 ) $ 35,091 $ 17,294 $ 5,825 $ — $ (12 ) $ 23,107 Cost of sales 15,537 7,055 — (476 ) 22,116 11,735 5,362 — (12 ) 17,085 Capital expenditures 103 528 — — 631 233 757 — — 990 Depreciation and amortization expense 1,253 543 91 — 1,887 1,591 541 77 — 2,209 Operating income (loss) 2,074 (2,309 ) (7,379 ) — (7,614 ) (4,462 ) (5,263 ) (4,819 ) — (14,544 ) |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Years Ended January 31, 2023 2022 Seamap Marine Products $ 2,074 $ (4,462 ) Klein Marine Products (2,309 ) (5,263 ) Corporate Expenses (7,379 ) (4,819 ) Operating loss (7,614 ) (14,544 ) Employment Retention Credit 1,004 — Paycheck Protection Plan — 850 Other (122 ) 76 Loss from continuing operations before income taxes $ (6,732 ) $ (13,618 ) |
Note 21 - Sales and Major Cus_2
Note 21 - Sales and Major Customers (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | Year Ended January 31, 2023 2022 Europe $ 14,814 $ 8,821 Asia/South Pacific 12,876 11,244 Other 483 633 Total $ 28,173 $ 20,698 |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Jan. 31, 2023 | |
Notes Tables | |
Valuation Allowances and Reserves [Table Text Block] | Col. A Col. B Col. C(1) Col. C(2) Col. D Col. E Balance at Charged to Charged Beginning Costs and to Other Deductions Balance at End Description of Period Expenses Accounts Describe of Period Allowance for doubtful accounts January 31, 2023 $ 506 — — (a) — (b) $ 506 January 31, 2022 $ 1,776 (820 ) — (a) (450 ) (b) $ 506 Allowance for obsolete equipment and inventory January 31, 2023 $ 2,418 445 — (a) (1,123 ) (c) $ 1,740 January 31, 2022 $ 1,660 921 — (a) (163 ) (c) $ 2,418 |
Note 1 - Organization and Sum_3
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2023 | Jan. 31, 2022 | |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total | $ (6,917) | $ (12,610) | |
Other Income [Member] | |||
Employee Retention Credit, Refund Claims | $ 1,000 | ||
Customer Relationships [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 8 years | 8 years | |
Building [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 30 years | 30 years | |
Property Improvements [Member] | |||
Property, Plant and Equipment, Useful Life (Year) | 10 years | 10 years | |
Minimum [Member] | |||
Contract With Customer Performance Period (Year) | 3 years | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years | |
Minimum [Member] | Proprietary Rights, Developed Technology [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 10 years | |
Minimum [Member] | Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 8 years | 8 years | |
Maximum [Member] | |||
Contract With Customer Performance Period (Year) | 12 years | ||
Property, Plant and Equipment, Useful Life (Year) | 7 years | 7 years | |
Maximum [Member] | Proprietary Rights, Developed Technology [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 15 years | 15 years | |
Maximum [Member] | Patents [Member] | |||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | 10 years | |
Revision of Prior Period, Error Correction, Adjustment [Member] | |||
Comprehensive Income (Loss), Net of Tax, Attributable to Parent, Total | $ 2,900 |
Note 1 - Organization and Sum_4
Note 1 - Organization and Summary of Significant Accounting Policies - Earnings Per Share (Details) - shares shares in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Total dilutive shares (in shares) | 0 | 50 |
Share-Based Payment Arrangement, Option [Member] | ||
Stock options (in shares) | 0 | 37 |
Restricted Stock [Member] | ||
Stock options (in shares) | 0 | 13 |
Note 2 - Assets Held for Sale_3
Note 2 - Assets Held for Sale and Discontinued Operations - Held for Sale and Discontinued Operations (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Loss recognized on classification as held for sale | $ 0 | $ (925) |
Total assets of discontinued operations | 0 | 159 |
Total liabilities of discontinued operations | 0 | 953 |
Net loss from discontinued operations | (1,401) | (1,506) |
Sale of assets held for sale | 1,052 | 5,437 |
Discontinued Operations, Held-for-Sale [Member] | ||
Accounts receivable, net | 0 | 177 |
Inventories, net | 0 | 2 |
Prepaid expenses and other current assets | 0 | 167 |
Seismic equipment lease pool and property and equipment, net | 0 | 738 |
Total assets of discontinued operations | 0 | 159 |
Accounts payable | 0 | 132 |
Deferred revenue | 0 | 73 |
Accrued expenses and other current liabilities | 0 | 507 |
Income taxes payable | 0 | 241 |
Total liabilities of discontinued operations | 0 | 953 |
Revenue from discontinued operations | 0 | 878 |
Cost of discontinued operations | 91 | 993 |
Selling, general and administrative | 765 | 1,622 |
(Recovery) provision for doubtful accounts | 0 | (450) |
Depreciation and amortization | 0 | 5 |
Total operating expenses | 765 | 1,177 |
Operating loss | (856) | (1,292) |
Other (expense) income | (545) | 93 |
Loss before income taxes from discontinued operations | (1,401) | (1,199) |
Provision for income taxes from discontinued operations | 0 | (307) |
Net loss from discontinued operations | (1,401) | (1,506) |
Depreciation and amortization | 0 | 5 |
Sale of assets held for sale | $ 1,052 | $ 6,198 |
Note 4 - Going Concern and Su_2
Note 4 - Going Concern and Subsequent Event (Details Textual) - USD ($) | Feb. 02, 2023 | Jan. 31, 2023 | Jan. 31, 2022 |
Preferred Stock, Shares Available for Issuance (in shares) | 317,000 | ||
Common Stock, Shares Available for Issuance (in shares) | 22,100,000 | ||
Working Capital (Deficit) | $ 13,300,000 | ||
Cash | 778,000 | ||
Unbilled Contracts Receivable | $ 20,700,000 | $ 13,100,000 | |
Subsequent Event [Member] | Sachem Capital Corp Loan [Member] | |||
Proceeds from Notes Payable, Total | $ 3.75 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.90% | ||
Loan Processing Fee | $ 240,000 |
Note 5 - Revenue From Contrac_3
Note 5 - Revenue From Contracts With Customers (Details Textual) | 12 Months Ended |
Jan. 31, 2023 | |
Minimum [Member] | |
Contract with Customers, Turn Over Period (Month) | 3 months |
Maximum [Member] | |
Contract with Customers, Turn Over Period (Month) | 6 months |
Note 5 - Revenue From Contrac_4
Note 5 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Seamap | $ 35,091 | $ 23,107 |
UNITED STATES | ||
Seamap | 6,918 | 2,409 |
Europe, Russia and CIS [Member] | ||
Seamap | 14,814 | 8,821 |
Middle East and Africa [Member] | ||
Seamap | 12,876 | 11,244 |
Asia Pacific [Member] | ||
Seamap | 483 | 633 |
Transferred at Point in Time [Member] | ||
Seamap | 28,923 | 21,850 |
Transferred over Time [Member] | ||
Seamap | 6,168 | 1,257 |
Seamap [Member] | Transferred at Point in Time [Member] | ||
Seamap | 22,544 | 16,422 |
Seamap [Member] | Transferred over Time [Member] | ||
Seamap | 2,468 | 871 |
Klein [Member] | Transferred at Point in Time [Member] | ||
Seamap | 6,379 | 5,428 |
Klein [Member] | Transferred over Time [Member] | ||
Seamap | $ 3,700 | $ 386 |
Note 5 - Revenue From Contrac_5
Note 5 - Revenue From Contracts With Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Unbilled revenue-current | $ 2 | $ 28 |
Total unbilled revenue | 2 | 28 |
Deferred revenue & customer deposits - current | 571 | 2,569 |
Total deferred revenue & customer deposits | $ 571 | $ 2,569 |
Note 6 - Supplemental Stateme_3
Note 6 - Supplemental Statements of Cash Flows Information - Supplemental Statements of Cash Flows Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Interest paid | $ 4 | $ 31 |
Income taxes paid, net | $ 371 | $ 355 |
Note 7 - Inventories - Inventor
Note 7 - Inventories - Inventories From Continuing Operations (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Raw materials | $ 8,480 | $ 8,511 |
Finished goods | 4,156 | 3,806 |
Work in progress | 4,422 | 3,567 |
Cost of inventories | 17,058 | 15,884 |
Less allowance for obsolescence | (1,740) | (1,878) |
Net inventories | $ 15,318 | $ 14,006 |
Note 8 - Accounts Receivables -
Note 8 - Accounts Receivables - Accounts Receivables From Continuing Operations (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Accounts receivable, current | $ 4,497 | $ 8,610 |
Accounts receivable, noncurrent | 0 | 650 |
Accounts receivable | 4,497 | 9,260 |
Less allowance for doubtful accounts, current | (504) | (484) |
Less allowance for doubtful accounts, noncurrent | 0 | 0 |
Less allowance for doubtful accounts | (504) | (484) |
Accounts receivable net of allowance for doubtful accounts, current | 3,993 | 8,126 |
Accounts receivable net of allowance for doubtful accounts, noncurrent | 0 | 650 |
Accounts receivable net of allowance for doubtful accounts | $ 3,993 | $ 8,776 |
Note 9 - Property and Equipme_3
Note 9 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Depreciation | $ 806,000 | $ 934,000 |
Note 9 - Property and Equipme_4
Note 9 - Property and Equipment - Property and Equipment (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Cost of property and equipment | $ 15,134 | $ 18,795 |
Less accumulated depreciation | (11,189) | (14,523) |
Net book value of property and equipment | 3,945 | 4,272 |
Furniture and Fixtures [Member] | ||
Cost of property and equipment | 9,896 | 9,865 |
Vehicles [Member] | ||
Cost of property and equipment | 358 | 495 |
Leasehold Improvements [Member] | ||
Cost of property and equipment | 0 | 3,880 |
Land and Building [Member] | ||
Cost of property and equipment | $ 4,880 | $ 4,555 |
Note 9 - Property and Equipme_5
Note 9 - Property and Equipment - Location of Property and Equipment (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Net book value of property and equipment | $ 3,945 | $ 4,272 |
UNITED STATES | ||
Net book value of property and equipment | 3,166 | 3,068 |
Europe [Member] | ||
Net book value of property and equipment | 44 | 46 |
SINGAPORE | ||
Net book value of property and equipment | 154 | 332 |
MALAYSIA | ||
Net book value of property and equipment | $ 581 | $ 826 |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) - USD ($) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Lease, Cost, Total | $ 858,000 | $ 1,200,000 |
Short-Term Lease, Cost | $ 6,000 | $ 36,000 |
Maximum [Member] | ||
Lessor, Operating Lease, Term of Contract (Year) | 1 year |
Note 10 - Leases - Supplemental
Note 10 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Operating lease assets | $ 1,749 | $ 1,835 |
Operating lease liabilities | 1,749 | 1,835 |
Current liabilities | 903 | 869 |
Non-current liabilities | 846 | 966 |
Total Operating lease liabilities | $ 1,749 | $ 1,835 |
Note 10 - Leases - Supplement_2
Note 10 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Weighted average remaining lease term, Operating leases (Year) | 1 year 11 months 23 days | 1 year 9 months 25 days |
Weighted average discount rate, Operating leases | 13% | 13% |
Operating cash flows from operating leases | $ (858) | $ (1,196) |
Right-of-use assets obtained in exchange for lease liabilities, Operating leases | $ 819 | $ 772 |
Note 10 - Leases - Maturities o
Note 10 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
2023 | $ 903 | $ 869 |
2024 | 574 | 547 |
2025 | 274 | 285 |
2026 | 188 | 211 |
2027 | 188 | 188 |
Thereafter | 16 | 204 |
Total payments under lease agreements | 2,143 | 2,304 |
Less: imputed interest | (394) | (469) |
Total lease liabilities | $ 1,749 | $ 1,835 |
Note 11 - Intangible Assets (De
Note 11 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Finite-Lived Intangible Assets, Gross, Total | $ 18,831,000 | $ 18,819,000 |
Amortization of Intangible Assets | 1.1 | $ 1,300,000 |
Klein Associates Incorporation [Member] | ||
Impairment of Intangible Assets (Excluding Goodwill), Total | 0 | |
Technology Development Projects That Have Not Been Completed [Member] | ||
Finite-Lived Intangible Assets, Gross, Total | $ 923,000 |
Note 11 - Intangible Assets - S
Note 11 - Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Amortizable intangible assets, gross carrying amount | $ 18,831 | $ 18,819 |
Amortizable intangible assets, accumulated amortization | (13,140) | (12,041) |
Intangible assets, net | 4,931 | 6,018 |
Amortizable intangible assets, impairment | (760) | (760) |
Proprietary Rights [Member] | ||
Amortizable intangible assets, gross carrying amount | 8,238 | 8,237 |
Amortizable intangible assets, accumulated amortization | (4,606) | (4,150) |
Intangible assets, net | $ 3,632 | 4,087 |
Proprietary Rights [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 5 years 1 month 6 days | |
Customer Relationships [Member] | ||
Weighted average life (Year) | 8 years | |
Amortizable intangible assets, gross carrying amount | $ 5,024 | 5,024 |
Amortizable intangible assets, accumulated amortization | (4,894) | (4,797) |
Intangible assets, net | $ 130 | 227 |
Customer Relationships [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 2 months 12 days | |
Patents [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 2,540 | 2,540 |
Amortizable intangible assets, accumulated amortization | (2,027) | (1,778) |
Intangible assets, net | $ 513 | 762 |
Patents [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 2 years | |
Trade Names [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 894 | 894 |
Amortizable intangible assets, accumulated amortization | (97) | (85) |
Intangible assets, net | 37 | 49 |
Amortizable intangible assets, impairment | $ (760) | (760) |
Trade Names [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 3 years 3 months 18 days | |
Developed Technology Rights [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 1,430 | 1,430 |
Amortizable intangible assets, accumulated amortization | (1,013) | (870) |
Intangible assets, net | $ 417 | 560 |
Developed Technology Rights [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 2 years 10 months 24 days | |
Other Intangible Assets [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 705 | 694 |
Amortizable intangible assets, accumulated amortization | (503) | (361) |
Intangible assets, net | $ 202 | $ 333 |
Other Intangible Assets [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 1 year 3 months 18 days |
Note 11 - Intangible Assets - F
Note 11 - Intangible Assets - Future Estimated Amortization Expense (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Total | $ 4,931 | $ 6,018 |
Intangibles Excluding Technology Development Projects Not Yet Completed [Member] | ||
2024 | 704 | |
2025 | 839 | |
2026 | 608 | |
2027 | 506 | |
2028 | 267 | |
Thereafter | 1,084 | |
Total | $ 4,008 |
Note 12 - Accrued Expenses an_3
Note 12 - Accrued Expenses and Other Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands | Jan. 31, 2023 | Jan. 31, 2022 |
Wages and benefits | $ 906 | $ 556 |
Customer deposits | 407 | 2,601 |
Accrued inventory | 306 | 900 |
Accrued preferred stock dividend | 0 | 947 |
Other | 628 | 758 |
Accrued Expenses and Other Liabilities | $ 2,247 | $ 5,762 |
Note 13 - Notes Payable (Detail
Note 13 - Notes Payable (Details Textual) - Paycheck Protection Program CARES Act [Member] - USD ($) | 1 Months Ended | |
May 05, 2020 | Feb. 28, 2021 | |
Proceeds from Unsecured Notes Payable | $ 850,000 | |
Debt Instrument, Decrease, Forgiveness | $ 850,000 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Details Textual) | 12 Months Ended | |
Jan. 31, 2023 $ / shares shares | Jan. 31, 2022 $ / shares shares | |
Preferred Stock, Shares Authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1,683,000 | 1,683,000 |
Common Stock, Shares Authorized (in shares) | 40,000,000 | 40,000,000 |
Common Stock, Shares, Issued (in shares) | 15,721,000 | 15,705,000 |
Treasury Stock, Common and Preferred, Shares (in shares) | 1,933,000 | 1,931,000 |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 2,200 | 1,100 |
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation, Average Fair Value (in dollars per share) | $ / shares | $ 1.25 | |
Series A Preferred Stock [Member] | ||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1,682,985 | |
Preferred Stock, Dividend Rate, Percentage | 9% | |
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 25 | |
Preferred Stock, Dividend Rate, Per-Dollar-Amount (in dollars per share) | $ / shares | 2.25 | |
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ / shares | $ 25 | $ 25 |
Preferred Stock Redemption Period (Day) | 120 days | |
Preferred Stock, Voting Rights, Number of Quarterly Dividends Periods, Threshold | 6 | |
Minimum Period Of Time For Listing (Year) | 180 years |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transaction (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||
Nov. 12, 2021 | Sep. 30, 2020 | Oct. 31, 2021 | Jan. 31, 2023 | Jan. 31, 2022 | |
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 1 | $ 1 | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | |||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 0 | $ 14,676,000 | |||
Proceeds from Issuance of Common Stock | $ 0 | $ 43,000 | |||
Common Stock [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 19,000 | ||||
Preferred Stock [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 645,000 | ||||
Underwriting Agreement [Member] | |||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 9,500,000 | ||||
Payments of Stock Issuance Costs | $ 576,000 | ||||
Underwriting Agreement [Member] | Preferred Stock [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 432,000 | ||||
Series A Preferred Stock [Member] | |||||
Preferred Stock, Dividend Rate, Percentage | 9% | ||||
Ladenburg Thalmann and Co. Inc. [Member] | First ATM Offering Program [Member] | Common Stock [Member] | |||||
Equity Offering, Maximum Shares to be Issued (in shares) | 5,000,000 | ||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | ||||
Ladenburg Thalmann and Co. Inc. [Member] | Second ATM Offering Program [Member] | Common Stock [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 18,415 | 0 | |||
Payments of Stock Issuance Costs | $ 1,000 | ||||
Proceeds From Issuance Of Common Stock, Gross | 44,000 | ||||
Proceeds from Issuance of Common Stock | $ 43,000 | ||||
Ladenburg Thalmann and Co. Inc. [Member] | Series A Preferred Stock [Member] | First ATM Offering Program [Member] | |||||
Equity Offering, Maximum Shares to be Issued (in shares) | 500,000 | ||||
Preferred Stock, Dividend Rate, Percentage | 9% | ||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 1 | ||||
Equity Offering, Distribution Compensation, Percentage of Gross Proceeds | 2% | ||||
Ladenburg Thalmann and Co. Inc. [Member] | Series A Preferred Stock [Member] | Second ATM Offering Program [Member] | |||||
Stock Issued During Period, Shares, New Issues (in shares) | 0 | 212,753 | |||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 5,300,000 | ||||
Payments of Stock Issuance Costs | 106,000 | ||||
Proceeds From Issuance Of Preferred Stock And Preference Stock, Net | $ 5,200,000 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2022 |
Deferred Tax Liability Not Recognized, Amount of Unrecognized Deferred Tax Liability, Undistributed Earnings of Foreign Subsidiaries | $ 0 | ||
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 857,000 | $ 833,000 | |
Deferred Tax Assets, Valuation Allowance, Total | 26,932,000 | 23,650,000 | |
Tax Credit Carryforward, Amount | 184,000 | ||
Unrecognized Tax Benefits, Ending Balance | $ 0 | $ 0 | $ 0 |
Note 16 - Income Taxes - Income
Note 16 - Income Taxes - Income Taxes Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Domestic | $ (10,446) | $ (11,618) |
Foreign | 3,714 | (2,000) |
Loss from continuing operations before income taxes | (6,732) | (13,618) |
Domestic | 19 | 27 |
Foreign | 743 | 40 |
Total | 762 | 67 |
Domestic | 0 | 0 |
Foreign | (63) | (106) |
Total | (63) | (106) |
Income Tax Expense (Benefit) | $ 699 | $ (39) |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Federal income tax at 21% | $ (1,414) | $ (2,860) |
Changes in tax rates | 0 | 0 |
Permanent differences | 363 | (144) |
Foreign effective tax rate differential | (53) | (8) |
Valuation allowance on deferred tax assets | 1,690 | 2,931 |
Excess tax deficiency for share-based payments under ASU 2016-09 | 133 | 13 |
Other | (20) | 29 |
Income Tax Expense (Benefit) | $ 699 | $ (39) |
Note 16 - Income Taxes - Reco_2
Note 16 - Income Taxes - Reconciliation of Income Tax Expense (Benefit) (Details) (Parentheticals) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Federal income rate | 21% | 21% |
Note 16 - Income Taxes - Deferr
Note 16 - Income Taxes - Deferred Taxes (Details) - USD ($) | Jan. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2022 |
Net operating losses | $ 23,019,000 | $ 20,282,000 | |
Tax credit carry forwards | 184,000 | 165,000 | |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 857,000 | 833,000 | |
Allowance for doubtful accounts | 145,000 | 102,000 | |
Inventory | 1,383,000 | 835,000 | |
Accruals not yet deductible for tax purposes | 83,000 | 130,000 | |
Fixed assets | 265,000 | 289,000 | |
Intangible assets | 411,000 | 391,000 | |
Other | 585,000 | 623,000 | |
Gross deferred tax assets | 26,932,000 | 23,650,000 | |
Valuation allowance | (26,932,000) | (23,650,000) | |
Deferred tax assets | 0 | 0 | |
Other | 29,000 | 92,000 | |
Deferred tax liabilities | (29,000) | (92,000) | |
Unrecognized tax benefits | 0 | $ 0 | 0 |
Total deferred tax liabilities, net | $ (29,000) | $ (92,000) |
Note 17 - Commitments and Con_2
Note 17 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Long-term Purchase Commitment, Amount | $ 1,600,000 | |
Payment of Long-term Purchase Commitment | $ 748,000 | |
Purchase Obligation, Total | $ 4,700,000 |
Note 18 - Stock Option Plans (D
Note 18 - Stock Option Plans (Details Textual) - USD ($) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Share-Based Payment Arrangement, Expense | $ 654,000 | $ 643,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 0.51 | $ 1.04 |
Excess Tax Benefit from Share-Based Compensation | $ 0 | $ 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 180,000 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ 1,400,000 | $ 700,000 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares (in shares) | 1,100,000 | 500,000 |
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 1,300,000 | |
Share-Based Payment Arrangement, Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 6 months | |
Restricted Stock [Member] | ||
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 0 |
Note 18 - Stock Option Plans -
Note 18 - Stock Option Plans - Fair Value Assumptions (Details) | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Risk free interest rate | 2.69% | 0.72% |
Risk free interest rate | 3.03% | 0.72% |
Expected volatility | 63% | |
Expected volatility | 63% | |
Expected dividend yield | 0% | 0% |
Minimum [Member] | ||
Expected life (in years) (Year) | 5 years 6 months | 3 years 11 months 19 days |
Maximum [Member] | ||
Expected life (in years) (Year) | 6 years 6 months | 5 years 11 months 19 days |
Note 18 - Stock Option Plans _2
Note 18 - Stock Option Plans - Stock Option Activiy (Details) - USD ($) $ / shares in Units, shares in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Outstanding, number of shares (in shares) | 3,425 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.53 | |
Outstanding, weighted average remaining contractual term (Year) | 5 years 10 months 28 days | 6 years 6 months 29 days |
Outstanding, intrinsic value | $ 0 | $ 100,000 |
Granted, number of shares (in shares) | 895 | |
Granted, weighted average exercise price (in dollars per share) | $ 0.81 | |
Exercised, number of shares (in shares) | 0 | 0 |
Exercised, weighted average exercise price (in dollars per share) | $ 0 | |
Forfeited, number of shares (in shares) | 0 | |
Forfeited, weighted average exercise price (in dollars per share) | $ 0 | |
Expired, number of shares (in shares) | (225) | |
Expired, weighted average exercise price (in dollars per share) | $ 5.30 | |
Outstanding, number of shares (in shares) | 4,095 | 3,425 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.84 | $ 3.53 |
Exercisable, number of shares (in shares) | 2,693 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 3.68 | |
Exercisable, weighted average remaining contractual term (Year) | 4 years 3 months | |
Exercisable, intrinsic value | $ 0 | |
Nonvested, number of shares (in shares) | 1,402 | |
Nonvested, weighted average exercise price (in dollars per share) | $ 1.23 | |
Nonvested, weighted average remaining contractual term (Year) | 9 years 1 month 9 days | |
Nonvested, intrinsic value | $ 0 |
Note 18 - Stock Option Plans _3
Note 18 - Stock Option Plans - Restricted Stock (Details) - Restricted Stock [Member] shares in Thousands | 12 Months Ended |
Jan. 31, 2023 $ / shares shares | |
Unvested, shares (in shares) | shares | 19 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 2.51 |
Granted, shares (in shares) | shares | 11 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1 |
Vested, shares (in shares) | shares | (19) |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 2.51 |
Canceled, shares (in shares) | shares | 0 |
Canceled, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Unvested, shares (in shares) | shares | 11 |
Unvested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1 |
Note 19 - Segment Reporting - S
Note 19 - Segment Reporting - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | ||
Accounts Receivable, Net | $ 3,993 | $ 8,126 | |
Inventories, Net | 15,318 | 14,006 | |
Long-lived Assets, Net | 10,625 | 12,125 | |
Segment assets | 29,936 | 34,257 | |
Other(1) | [1] | 2,922 | 7,763 |
Total Consolidated Assets | 32,858 | 42,020 | |
Total revenues | 35,091 | 23,107 | |
Total cost of sales | 22,116 | 17,085 | |
Capital expenditures | 631 | 990 | |
Depreciation and amortization | 1,887 | 2,209 | |
Operating income (loss) | (7,614) | (14,544) | |
Operating Segments [Member] | Seamap Marine Products [Member] | |||
Accounts Receivable, Net | 3,245 | 7,246 | |
Inventories, Net | 11,026 | 9,508 | |
Long-lived Assets, Net | 5,649 | 7,741 | |
Segment assets | 19,920 | 24,495 | |
Total revenues | 25,012 | 17,294 | |
Total cost of sales | 15,537 | 11,735 | |
Capital expenditures | 103 | 233 | |
Depreciation and amortization | 1,253 | 1,591 | |
Operating income (loss) | 2,074 | (4,462) | |
Operating Segments [Member] | Klein Marine Products [Member] | |||
Accounts Receivable, Net | 748 | 880 | |
Inventories, Net | 4,292 | 4,498 | |
Long-lived Assets, Net | 4,480 | 3,879 | |
Segment assets | 9,520 | 9,257 | |
Total revenues | 10,555 | 5,825 | |
Total cost of sales | 7,055 | 5,362 | |
Capital expenditures | 528 | 757 | |
Depreciation and amortization | 543 | 541 | |
Operating income (loss) | (2,309) | (5,263) | |
Corporate, Non-Segment [Member] | |||
Accounts Receivable, Net | 0 | 0 | |
Inventories, Net | 0 | 0 | |
Long-lived Assets, Net | 496 | 505 | |
Segment assets | 496 | 505 | |
Total revenues | 0 | 0 | |
Total cost of sales | 0 | 0 | |
Capital expenditures | 0 | 0 | |
Depreciation and amortization | 91 | 77 | |
Operating income (loss) | (7,379) | (4,819) | |
Intersegment Eliminations [Member] | |||
Total revenues | (476) | (12) | |
Total cost of sales | (476) | (12) | |
Capital expenditures | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Operating income (loss) | $ 0 | $ 0 | |
[1]Other includes cash and prepaid expenses and other assets. |
Note 19 - Segment Reporting - R
Note 19 - Segment Reporting - Reconciliation of Operating Income Loss to Loss From Continuing Operations Before Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Operating income (loss) | $ (7,614) | $ (14,544) |
Employment Retention Credit | 1,004 | 0 |
Paycheck Protection Plan | 0 | 850 |
Other | (122) | 76 |
Loss from continuing operations before income taxes | (6,732) | (13,618) |
Corporate, Non-Segment [Member] | ||
Operating income (loss) | (7,379) | (4,819) |
Seamap Marine Products [Member] | Operating Segments [Member] | ||
Operating income (loss) | 2,074 | (4,462) |
Klein Marine Products [Member] | Operating Segments [Member] | ||
Operating income (loss) | $ (2,309) | $ (5,263) |
Note 20 - Concentrations (Detai
Note 20 - Concentrations (Details Textual) | 12 Months Ended | |
Jan. 31, 2023 USD ($) | Jan. 31, 2022 | |
Deposits, Foreign, Total | $ 370,000 | |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
Number of Major Customers | 2 | 2 |
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 10% | 10% |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Number of Major Customers | 2 | 1 |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||
Concentration Risk, Percentage | 10% | |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Largest Customer [Member] | ||
Concentration Risk, Percentage | 17% | 23% |
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Five Largest Customers [Member] | ||
Number of Major Customers | 5 | |
Concentration Risk, Percentage | 47% | 51% |
Note 21 - Sales and Major Cus_3
Note 21 - Sales and Major Customers (Details Textual) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Number of Major Customers | 2 | 1 |
Two Customers [Member] | ||
Concentration Risk, Percentage | 10% | |
One Customer [Member] | ||
Concentration Risk, Percentage | 10% |
Note 21 - Sales and Major Cus_4
Note 21 - Sales and Major Customers - Summary of Revenues (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 31, 2023 | Jan. 31, 2022 | |
Total revenues | $ 35,091 | $ 23,107 |
UK and Europe [Member] | ||
Total revenues | 14,814 | 8,821 |
CANADA | ||
Total revenues | 12,876 | 11,244 |
Latin America [Member] | ||
Total revenues | 483 | 633 |
Non-US [Member] | ||
Total revenues | $ 28,173 | $ 20,698 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2023 | Jan. 31, 2022 | ||
SEC Schedule, 12-09, Allowance, Credit Loss [Member] | |||
Balance of the period | $ 506 | $ 1,776 | |
Charges to costs and expenses | 0 | (820) | |
Charges to other accounts | [1] | 0 | 0 |
Deductions describe | [2] | 0 | (450) |
Balance of the period | 506 | 506 | |
Allowance for Obsolete Equipment and Inventory [Member] | |||
Balance of the period | 2,418 | 1,660 | |
Charges to costs and expenses | 445 | 921 | |
Charges to other accounts | [1] | 0 | 0 |
Deductions describe | [3] | (1,123) | (163) |
Balance of the period | $ 1,740 | $ 2,418 | |
[1]Represents translation differences.[2]Represents recoveries and uncollectible accounts written off.[3]Represents sale or scrap of inventory and obsolete equipment. |