Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Oct. 31, 2023 | Dec. 13, 2023 | |
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 | Q3 | |
Document Fiscal Year Focus | 2024 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-13490 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 76-0210849 | |
Entity Address, Address Line One | 2002 Timberloch Place Suite 550 | |
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 Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,405,779 | |
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 - $0.01 par value per share | |
Trading Symbol | MIND | |
Security Exchange Name | NASDAQ |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Current assets: | ||
Cash and cash equivalents | $ 5,569 | $ 778 |
Accounts receivable, net of allowance for doubtful accounts of $332 at each of October 31, 2023 and January 31, 2023 | 3,882 | 3,247 |
Inventories, net | 13,263 | 11,026 |
Prepaid expenses and other current assets | 1,701 | 1,400 |
Current assets of discontinued operations | 0 | 5,783 |
Total current assets | 24,415 | 22,234 |
Property and equipment, net | 830 | 953 |
Operating lease right-of-use assets | 1,517 | 1,749 |
Intangible assets, net | 3,073 | 3,633 |
Long-term assets of discontinued operations | 0 | 4,289 |
Total assets | 29,835 | 32,858 |
Current liabilities: | ||
Accounts payable | 1,127 | 2,494 |
Deferred revenue | 130 | 144 |
Accrued expenses and other current liabilities | 4,360 | 1,477 |
Income taxes payable | 1,457 | 1,493 |
Operating lease liabilities - current | 833 | 903 |
Current liabilities of discontinued operations | 0 | 2,420 |
Total current liabilities | 7,907 | 8,931 |
Operating lease liabilities - non-current | 684 | 846 |
Deferred tax liability | 41 | 29 |
Total liabilities | 8,632 | 9,806 |
Stockholders’ equity: | ||
Preferred stock, $1.00 par value; 2,000 shares authorized; 1,683 shares issued and outstanding at each of October 31, 2023 and January 31, 2023 | 37,779 | 37,779 |
Common stock, $0.01 par value; 40,000 shares authorized; 1,406 shares issued at October 31, 2023 and 1,599 shares at January 31, 2023 (as Adjusted, see Note 14) | 14 | 16 |
Additional paid-in capital (as Adjusted, see Note 14) | 113,124 | 129,721 |
Treasury stock, at cost (193 shares at January 31, 2023) (As Adjusted, see Note 14) | 0 | (16,863) |
Accumulated deficit | (129,748) | (127,635) |
Accumulated other comprehensive gain | 34 | 34 |
Total stockholders’ equity | 21,203 | 23,052 |
Total liabilities and stockholders’ equity | $ 29,835 | $ 32,858 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Allowance for doubtful accounts | $ 332 | $ 332 |
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, authorized (in shares) | 40,000,000 | 40,000,000 |
Common stock, issued (in shares) | 1,406,000 | 1,599,000 |
Treasury stock, shares (in shares) | 193,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Revenues: | ||||
Sale of marine technology products | $ 4,974,000 | $ 3,038,000 | $ 23,132,000 | $ 16,142,000 |
Total revenues | 4,974,000 | 3,038,000 | 23,132,000 | 16,142,000 |
Cost of sales: | ||||
Total cost of sales | 2,721,000 | 2,176,000 | 13,402,000 | 10,446,000 |
Gross profit | 2,253,000 | 862,000 | 9,730,000 | 5,696,000 |
Operating expenses: | ||||
Selling, general and administrative | 2,941,000 | 3,023,000 | 9,160,000 | 9,867,000 |
Research and development | 508,000 | 412,000 | 1,479,000 | 1,063,000 |
Depreciation and amortization | 257,000 | 331,000 | 892,000 | 1,011,000 |
Total operating expenses | 3,706,000 | 3,766,000 | 11,531,000 | 11,941,000 |
Operating loss | (1,453,000) | (2,904,000) | (1,801,000) | (6,245,000) |
Other (expense) income: | ||||
Interest expense | (169,000) | 0 | (536,000) | (4,000) |
Other, net | 25,000 | 59,000 | 336,000 | (186,000) |
Total other (expense) income | (144,000) | 59,000 | (200,000) | (190,000) |
Loss from continuing operations before income taxes | (1,597,000) | (2,845,000) | (2,001,000) | (6,435,000) |
Provision for income taxes | (112,000) | (38,000) | (590,000) | (380,000) |
Net loss from continuing operations | (1,709,000) | (2,883,000) | (2,591,000) | (6,815,000) |
Income (loss) from discontinued operations, net of income taxes, (including a $2,393 gain on the sale of Klein for the three and nine months ended October 31, 2023) | 2,277,000 | (2,276,000) | 1,424,000 | (2,683,000) |
Net income (loss) | 568,000 | (5,159,000) | (1,167,000) | (9,498,000) |
Preferred stock dividends - declared | (947,000) | 0 | (947,000) | (947,000) |
Preferred stock dividends - undeclared | 0 | (947,000) | (1,894,000) | (1,894,000) |
Net loss attributable to common stockholders | $ (379,000) | $ (6,106,000) | $ (4,008,000) | $ (12,339,000) |
Net loss per common share - Basic and Diluted | ||||
Continuing operations (in dollars per share) | $ (1.89) | $ (2.72) | $ (3.86) | $ (6.87) |
Discontinued operations (in dollars per share) | 1.62 | (1.62) | 1.01 | (1.91) |
Net loss (in dollars per share) | $ (0.27) | $ (4.34) | $ (2.85) | $ (8.78) |
Shares used in computing net loss per common share: | ||||
Basic (in shares) | 1,406 | 1,406 | 1,406 | 1,405 |
Diluted (in shares) | 1,406 | 1,406 | 1,406 | 1,405 |
Marine Technology Products [Member] | ||||
Cost of sales: | ||||
Total cost of sales | $ 2,721,000 | $ 2,176,000 | $ 13,402,000 | $ 10,446,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Operations (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 21, 2023 | Oct. 31, 2023 | Oct. 31, 2023 | Oct. 31, 2022 | |
Klein Marine Services, Inc. [Member] | ||||
Gain (Loss) on Disposition of Business | $ 2,400 | $ 2,393 | $ 2,393 | $ 0 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Net loss | $ 568 | $ (5,159) | $ (1,167) | $ (9,498) |
Change in cumulative translation adjustment of entities held-for-sale | 0 | 1,626 | 0 | 1,919 |
Other changes in cumulative translation adjustment | 0 | (9) | 0 | (5) |
Comprehensive income (loss) | $ 568 | $ (3,542) | $ (1,167) | $ (7,584) |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2023 | Oct. 31, 2022 | |
Cash flows from operating activities: | ||
Net loss | $ (1,167) | $ (9,498) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 1,230 | 1,414 |
Stock-based compensation | 264 | 524 |
Provision for inventory obsolescence | 23 | 68 |
Non-cash cumulative translation adjustment for discontinued operations | 0 | 1,626 |
Changes in: | ||
Accounts receivable | (688) | 4,981 |
Unbilled revenue | 51 | 1 |
Inventories | (3,174) | (2,899) |
Prepaid expenses and other current and long-term assets | 566 | 506 |
Income taxes receivable and payable | (21) | (16) |
Accounts payable, accrued expenses and other current liabilities | (1,045) | 983 |
Deferred revenue and customer deposits | 1,115 | 328 |
Net cash used in operating activities | (5,624) | (2,251) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (199) | (531) |
Proceeds from the sale of Klein, net | 10,832 | 0 |
Sale of other equipment | 385 | 382 |
Net cash provided by (used in) investing activities | 11,018 | (149) |
Cash flows from financing activities: | ||
Purchase of treasury stock | 0 | (1) |
Net proceeds from short-term loan | 2,947 | 0 |
Payment on short-term loan | (3,750) | 0 |
Refund of prepaid interest on short-term loan | 214 | 0 |
Preferred stock dividends | 0 | (1,894) |
Net cash used in financing activities | (589) | (1,895) |
Effect of changes in foreign exchange rates on cash and cash equivalents | (14) | (7) |
Net change in cash and cash equivalents | 4,791 | (4,302) |
Cash and cash equivalents, beginning of period | 778 | 5,114 |
Cash and cash equivalents, end of period | 5,569 | 812 |
Supplemental cash flow information: | ||
Interest paid | 576 | 4 |
Income taxes paid | 617 | 371 |
Other Machinery and Equipment [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gross profit from sale of equipment | (385) | (269) |
Klein Marine Services, Inc. [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gain on sale of Klein | $ (2,393) | $ 0 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - 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, 2022 | 1,597 | 1,683 | |||||
Balances at Jan. 31, 2022 | $ 16 | $ 37,779 | $ 129,067 | $ (16,862) | $ (117,856) | $ (1,881) | $ 30,263 |
Net loss | 0 | 0 | 0 | 0 | (2,419) | 0 | (2,419) |
Stock-based compensation | 0 | 0 | 236 | 0 | 0 | 0 | 236 |
Preferred stock dividends | 0 | 0 | 0 | 0 | (947) | 0 | (947) |
Foreign currency translation | $ 0 | 0 | 0 | 0 | 0 | (3) | (3) |
Restricted stock issued (in shares) | 1 | ||||||
Restricted stock issued | $ 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Restricted stock surrendered for tax withholding | $ 0 | $ 0 | 0 | (1) | 0 | 0 | (1) |
Balances (in shares) at Apr. 30, 2022 | 1,598 | 1,683 | |||||
Balances at Apr. 30, 2022 | $ 16 | $ 37,779 | 129,303 | (16,863) | (121,222) | (1,884) | 27,129 |
Balances (in shares) at Jan. 31, 2022 | 1,597 | 1,683 | |||||
Balances at Jan. 31, 2022 | $ 16 | $ 37,779 | 129,067 | (16,862) | (117,856) | (1,881) | 30,263 |
Net loss | (9,498) | ||||||
Balances (in shares) at Oct. 31, 2022 | 1,599 | 1,683 | |||||
Balances at Oct. 31, 2022 | $ 16 | $ 37,779 | 129,591 | (16,863) | (128,301) | 33 | 22,255 |
Balances (in shares) at Apr. 30, 2022 | 1,598 | 1,683 | |||||
Balances at Apr. 30, 2022 | $ 16 | $ 37,779 | 129,303 | (16,863) | (121,222) | (1,884) | 27,129 |
Net loss | 0 | 0 | 0 | 0 | (1,920) | 0 | (1,920) |
Stock-based compensation | 0 | 0 | 152 | 0 | 0 | 0 | 152 |
Foreign currency translation | $ 0 | $ 0 | 0 | 0 | 0 | 300 | 300 |
Restricted stock issued (in shares) | 1 | 0 | |||||
Restricted stock issued | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Balances (in shares) at Jul. 31, 2022 | 1,599 | 1,683 | |||||
Balances at Jul. 31, 2022 | $ 16 | $ 37,779 | 129,455 | (16,863) | (123,142) | (1,584) | 25,661 |
Net loss | 0 | 0 | 0 | 0 | (5,159) | 0 | (5,159) |
Stock-based compensation | 0 | 0 | 136 | 0 | 0 | 0 | 136 |
Foreign currency translation | 1,617 | 1,617 | |||||
Restricted stock issued | $ 0 | $ 0 | 0 | 0 | 0 | 0 | 0 |
Balances (in shares) at Oct. 31, 2022 | 1,599 | 1,683 | |||||
Balances at Oct. 31, 2022 | $ 16 | $ 37,779 | 129,591 | (16,863) | (128,301) | 33 | 22,255 |
Balances (in shares) at Jan. 31, 2023 | 1,599 | 1,683 | |||||
Balances at Jan. 31, 2023 | $ 16 | $ 37,779 | 129,721 | (16,863) | (127,635) | 34 | 23,052 |
Net loss | 0 | 0 | 0 | 0 | (240) | 0 | (240) |
Stock-based compensation | $ 0 | $ 0 | 50 | 0 | 0 | 0 | 50 |
Balances (in shares) at Apr. 30, 2023 | 1,599 | 1,683 | |||||
Balances at Apr. 30, 2023 | $ 16 | $ 37,779 | 129,771 | (16,863) | (127,875) | 34 | 22,862 |
Balances (in shares) at Jan. 31, 2023 | 1,599 | 1,683 | |||||
Balances at Jan. 31, 2023 | $ 16 | $ 37,779 | 129,721 | (16,863) | (127,635) | 34 | 23,052 |
Net loss | (1,167) | ||||||
Balances (in shares) at Oct. 31, 2023 | 1,406 | 1,683 | |||||
Balances at Oct. 31, 2023 | $ 14 | $ 37,779 | 113,124 | 0 | (129,748) | 34 | 21,203 |
Balances (in shares) at Apr. 30, 2023 | 1,599 | 1,683 | |||||
Balances at Apr. 30, 2023 | $ 16 | $ 37,779 | 129,771 | (16,863) | (127,875) | 34 | 22,862 |
Net loss | 0 | 0 | 0 | 0 | (1,494) | 0 | (1,494) |
Stock-based compensation | $ 0 | $ 0 | 108 | 0 | 0 | 0 | 108 |
Balances (in shares) at Jul. 31, 2023 | 1,599 | 1,683 | |||||
Balances at Jul. 31, 2023 | $ 16 | $ 37,779 | 129,879 | (16,863) | (129,369) | 34 | 21,476 |
Net loss | 0 | 0 | 0 | 0 | 568 | 0 | 568 |
Stock-based compensation | $ 0 | $ 0 | 106 | 0 | 0 | 0 | 106 |
Retirement of treasury stock (in shares) | (193) | 0 | |||||
Retirement of treasury stock | $ (2) | $ 0 | (16,861) | 16,863 | 0 | 0 | 0 |
Preferred stock dividends | $ 0 | $ 0 | 0 | 0 | (947) | 0 | (947) |
Balances (in shares) at Oct. 31, 2023 | 1,406 | 1,683 | |||||
Balances at Oct. 31, 2023 | $ 14 | $ 37,779 | $ 113,124 | $ 0 | $ (129,748) | $ 34 | $ 21,203 |
Note 1 - Organization and Liqui
Note 1 - Organization and Liquidity | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. MIND Technology, Inc., a Delaware corporation (the “Company”), through its wholly owned subsidiaries, Seamap Pte Ltd, MIND Maritime Acoustics, LLC, Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd (collectively “Seamap”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries with product sales and support facilities based in Singapore, Malaysia, the United Kingdom and the state of Texas. Prior to July 31, 2020, July 31, 2020, 4 August 21, 2023, 2 4 three nine October 31, 2023 2022. January 31, 2023, These condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the realization of assets and the discharge of liabilities in the normal course of business for the foreseeable future. The Company has a history of generating losses and negative cash from operating activities and may not not may not Management has identified the following mitigating factors regarding adequate liquidity and capital resources to meet its obligations: • The Company has no • The Company had working capital of approximately $16.5 million as of October 31, 2023, • Should revenues be less than projected, the Company believes it is able, and has plans in place, to reduce costs proportionately in order 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 had a backlog of orders of approximately $37.4 million as of October 31, 2023. October 31, 2023, • Although the Company declared a dividend on its Series A Preferred Stock ("Preferred Stock") in the third 2024, first second 2024.The first 2023 2023. not six two • In recent years, the Company has raised capital through the sale of Common Stock and Preferred Stock pursuant to the ATM Offering Program (as defined herein) and underwritten offerings on Form S- 1. not 3 may 1 • Based on publicized transactions and preliminary discussions with potential funding sources, management believes that other sources of debt and equity financing are available. Such sources could include private or public issues of equity or debt securities, or a combination of such securities. Other sources could include secured debt financing, sale-leaseback transactions on owned real estate or investment from strategic industry participants. There can be no • On August 21, 2023, 10 Notwithstanding the mitigating factors identified by management, substantial doubt remains regarding the Company's ability to meet its obligations as they arise over the next twelve |
Note 2 - Sale of Subsidiary
Note 2 - Sale of Subsidiary | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Sale of Subsidiaries and Subsequent Events [Text Block] | 2. On August 21, 2023, On August 22, 2023, 10 |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 3. The condensed consolidated balance sheet as of January 31, 2023 not 10 January 31, 2023 2023” October 31, 2023 three nine October 31, 2023 2022, nine October 31, 2023 2022, three nine October 31, 2023 2022, not January 31, 2024 2024” |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 4. On August 21, 2023, January 31, 2023 three nine October 31, 2023 2022. On July 27, 2020, January 31, 2023, three nine October 31, 2022. February 1, 2023, The assets and liabilities reported as part of discontinued operations consist of the following: January 31, 2023 Current assets of discontinued operations: Accounts receivable, net $ 746 Inventories, net 4,292 Prepaid expenses and other current assets 745 Total current assets of discontinued operations $ 5,783 Property and equipment, net 2,992 Intangible assets, net 1,297 Total assets of discontinued operations $ 10,072 Current liabilities of discontinued operations: Accounts payable $ 1,607 Accrued and other liabilities 813 Total liabilities of discontinued operations $ 2,420 The results of operations from discontinued operations for the three nine October 31, 2023 2022 For the Three Months Ended October 31, For the Nine Months Ended October 31, 2023 2022 2023 2022 Revenues: (in thousands) Revenue from discontinued operations $ 140 $ 1,847 $ 3,318 $ 6,543 Cost of sales: Cost of discontinued operations 11 1,230 1,982 3,981 Operating expenses: Selling, general and administrative 179 680 1,348 2,109 Research and development 45 431 689 1,628 Depreciation and amortization 18 136 324 402 Total operating expenses 242 1,247 2,361 4,139 Operating loss (113 ) (630 ) (1,025 ) (1,577 ) Other income (expense) (Including $ 1,626 2 (1,646 ) 73 (1,106 ) Gain on sale of Klein 2,393 — 2,393 — Income (loss) before income taxes from discontinued operations 2,282 (2,276 ) 1,441 (2,683 ) Provision for income taxes from discontinued operations (5 ) — (17 ) — Net income (loss) from discontinued operations 2,277 (2,276 ) 1,424 (2,683 ) The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below: For the Nine Months Ended October 31, 2023 2022 (in thousands) Gross profit from sale of assets held-for-sale $ — $ (382 ) Gain on sale of Klein $ (2,393 ) $ — Non-Cash cumulative translation adjustment for discontinued operations $ — $ 1,626 Sale of assets held for sale $ — $ 383 |
Note 5 - New Accounting Pronoun
Note 5 - New Accounting Pronouncements | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Accounting Standards Update and Change in Accounting Principle [Text Block] | 5. In November 2023, No. 2023 07, 280 2023 07 February 1, 2024. In June 2016, No. 2016 13, 326 2016 13 February 1, 2023. not |
Note 6 - Revenue From Contracts
Note 6 - Revenue From Contracts With Customers | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 6. The following table presents revenue from contracts with customers disaggregated by timing of revenue recognition: Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Revenue recognized at a point in time: (in thousands) Total revenue recognized at a point in time $ 4,458 $ 2,778 $ 21,966 $ 15,060 Revenue recognized over time: Total revenue recognized over time 516 260 1,166 1,082 Total revenue from contracts with customers $ 4,974 $ 3,038 $ 23,132 $ 16,142 The revenue from products manufactured and sold by our Seamap business 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 business provides 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 recognized in equal monthly amounts over the life of the contract. The following table presents revenue from contracts with customers disaggregated by geography, based on the shipping location of our customers: Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 (in thousands) United States $ 351 $ 131 $ 852 $ 1,895 Europe 2,019 1,547 11,013 9,130 Asia-Pacific 1,591 1,252 10,085 4,850 Other 1,013 108 1,182 267 Total revenue from contracts with customers $ 4,974 $ 3,038 $ 23,132 $ 16,142 As of October 31, 2023 January 31, 2023 October 31, 2023 January 31, 2023 Contract Assets: (in thousands) Unbilled revenue - current $ 53 $ 2 Total unbilled revenue $ 53 $ 2 Contract Liabilities: Deferred revenue & customer deposits - current $ 1,687 $ 571 Total deferred revenue & customer deposits $ 1,687 $ 571 Considering the products manufactured and sold by our Seamap business and the Company’s standard contract terms and conditions, we expect the Company's contract assets and liabilities to turn over, on average, within a period of three nine With respect to the disclosures above, sales and transaction-based taxes are excluded from revenue, and we do not one one |
Note 7 - Balance Sheet
Note 7 - Balance Sheet | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | 7. October 31, 2023 January 31, 2023 (in thousands) Inventories: Raw materials $ 7,828 $ 6,798 Finished goods 3,075 2,744 Work in progress 3,618 2,699 Cost of inventories 14,521 12,241 Less allowance for obsolescence (1,258 ) (1,215 ) Total inventories, net $ 13,263 $ 11,026 October 31, 2023 January 31, 2023 (in thousands) Property and equipment: Furniture and fixtures $ 8,704 $ 8,739 Autos and trucks 382 341 Land and buildings 997 997 Cost of property and equipment 10,083 10,077 Accumulated depreciation and amortization (9,253 ) (9,124 ) Total property and equipment, net $ 830 $ 953 As of January 31, 2023 may not 2023. January 31, 2023 no October 31, 2023. |
Note 8 - Leases
Note 8 - Leases | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 8. The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Singapore, Malaysia, and the United Kingdom. Our lease obligation in Canada was terminated as of March 31, 2022, November 30, 2022. Lease expense for the three nine October 31, 2023 three nine October 31, 2022 approximately$2,000 three nine October 31, 2023 three nine October 31, 2022 approximately$2,000 Supplemental balance sheet information related to leases as of October 31, 2023 January 31, 2023 Lease October 31, 2023 January 31, 2023 Assets (in thousands) Operating lease assets $ 1,517 $ 1,749 Liabilities Operating lease liabilities $ 1,517 $ 1,749 Classification of lease liabilities Current liabilities $ 833 $ 903 Non-current liabilities 684 846 Total Operating lease liabilities $ 1,517 $ 1,749 Lease-term and discount rate details as of October 31, 2023 January 31, 2023 Lease term and discount rate October 31, 2023 January 31, 2023 Weighted average remaining lease term (years) Operating leases 1.69 1.98 Weighted average discount rate: Operating leases 13 % 13 % The incremental borrowing rate was calculated using the Company's weighted average cost of capital. Supplemental cash flow information related to leases was as follows: Lease Nine Months Ended October 31, 2023 Nine Months Ended October 31, 2022 Cash paid for amounts included in the measurement of lease liabilities: (in thousands) Operating cash flows from operating leases $ (621 ) $ (639 ) Changes in lease balances resulting from new and modified leases: Operating leases $ 391 $ 655 Maturities of lease liabilities at October 31, 2023 October 31, 2023 (in thousands) 2024 $ 299 2025 700 2026 338 2027 232 2028 235 Thereafter 33 Total payments under lease agreements $ 1,837 Less: imputed interest (320 ) Total lease liabilities $ 1,517 |
Note 9 - Intangible Assets
Note 9 - Intangible Assets | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 9. October 31, 2023 January 31, 2023 Weighted Average Life at Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying October 31, 2023 Amount Amortization Amount Amount Amortization Amount (in thousands) (in thousands) Proprietary rights 5.1 7,473 (4,943 ) 2,530 7,473 (4,612 ) 2,861 Customer relationships 0.1 4,884 (4,827 ) 57 4,884 (4,754 ) 130 Patents 1.6 2,540 (2,140 ) 400 2,540 (2,027 ) 513 Trade name 2.6 134 (105 ) 29 134 (97 ) 37 Other 0.4 396 (339 ) 57 375 (283 ) 92 Intangible assets $ 15,427 $ (12,354 ) $ 3,073 $ 15,406 $ (11,773 ) $ 3,633 Approximately $158,000 of the gross carrying amount of intangible assets, primarily in proprietary rights, are related to technology development projects that have not not On January 31, 2023 no not nine October 31, 2023, no Aggregate amortization expense was $591,000 and $667,000 for the nine October 31, 2023 2022 three October 31, 2023 2022, October 31, 2023 For fiscal years ending January 31, (in thousands) 2024 $ 333 2025 538 2026 514 2027 316 2028 316 Thereafter 898 Total $ 2,915 |
Note 10 - Notes Payable
Note 10 - Notes Payable | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Long-Term Debt [Text Block] | 10. On February 2, 2023, three nine October 31, 2023, August 22, 2023, 2 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. For the three nine October 31, 2023 approximately$1.6 three nine October 31, 2022, The Company files U.S. federal and state 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 Internal Revenue Service for fiscal years ended January 31, 2019 2023. may January 31, 2017 2023. January 31, 2017 2023. The Company has determined that the undistributed earnings of foreign subsidiaries are not October 31, 2023 not October 31, 2023 For the three nine October 31, 2023 2022 not |
Note 12 - Earnings Per Share
Note 12 - Earnings Per Share | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 12. Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock. For the three nine October 31, 2023 October 31, 2022, no three nine October 31, 2023 October 31,2022, On October 12, 2023, one ten 14 |
Note 13 - Related Party Transac
Note 13 - Related Party Transaction | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 13. Ladenburg Thalmann & Co. Inc. (“Ladenburg”) provided advisor and arrangement services for the Loan (See Note 10 no |
Note 14 - Equity and Stock-base
Note 14 - Equity and Stock-based Compensation | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-Based Payments [Text Block] | 14. As of October 31, 2023 April 30, July 31, October 31, January 31, three October 31, 2023 October 31, 2023. On September 28, 2023, one October 12, 2023, October 13, 2023. As a result of the Charter Amendment and Reverse Stock Split, every ten shares of issued and outstanding Common Stock were combined into one not one not Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three nine October 31, 2023 three nine October 31, 2022, |
Note 15 - Segment Reporting
Note 15 - Segment Reporting | 9 Months Ended |
Oct. 31, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 15. Prior to August 22, 2023, two August 21, 2023, 2 October 31, 2023, |
Note 4 - Discontinued Operati_2
Note 4 - Discontinued Operations (Tables) | 9 Months Ended |
Oct. 31, 2023 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | January 31, 2023 Current assets of discontinued operations: Accounts receivable, net $ 746 Inventories, net 4,292 Prepaid expenses and other current assets 745 Total current assets of discontinued operations $ 5,783 Property and equipment, net 2,992 Intangible assets, net 1,297 Total assets of discontinued operations $ 10,072 Current liabilities of discontinued operations: Accounts payable $ 1,607 Accrued and other liabilities 813 Total liabilities of discontinued operations $ 2,420 For the Three Months Ended October 31, For the Nine Months Ended October 31, 2023 2022 2023 2022 Revenues: (in thousands) Revenue from discontinued operations $ 140 $ 1,847 $ 3,318 $ 6,543 Cost of sales: Cost of discontinued operations 11 1,230 1,982 3,981 Operating expenses: Selling, general and administrative 179 680 1,348 2,109 Research and development 45 431 689 1,628 Depreciation and amortization 18 136 324 402 Total operating expenses 242 1,247 2,361 4,139 Operating loss (113 ) (630 ) (1,025 ) (1,577 ) Other income (expense) (Including $ 1,626 2 (1,646 ) 73 (1,106 ) Gain on sale of Klein 2,393 — 2,393 — Income (loss) before income taxes from discontinued operations 2,282 (2,276 ) 1,441 (2,683 ) Provision for income taxes from discontinued operations (5 ) — (17 ) — Net income (loss) from discontinued operations 2,277 (2,276 ) 1,424 (2,683 ) For the Nine Months Ended October 31, 2023 2022 (in thousands) Gross profit from sale of assets held-for-sale $ — $ (382 ) Gain on sale of Klein $ (2,393 ) $ — Non-Cash cumulative translation adjustment for discontinued operations $ — $ 1,626 Sale of assets held for sale $ — $ 383 |
Note 6 - Revenue From Contrac_2
Note 6 - Revenue From Contracts With Customers (Tables) | 9 Months Ended |
Oct. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Revenue recognized at a point in time: (in thousands) Total revenue recognized at a point in time $ 4,458 $ 2,778 $ 21,966 $ 15,060 Revenue recognized over time: Total revenue recognized over time 516 260 1,166 1,082 Total revenue from contracts with customers $ 4,974 $ 3,038 $ 23,132 $ 16,142 Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 (in thousands) United States $ 351 $ 131 $ 852 $ 1,895 Europe 2,019 1,547 11,013 9,130 Asia-Pacific 1,591 1,252 10,085 4,850 Other 1,013 108 1,182 267 Total revenue from contracts with customers $ 4,974 $ 3,038 $ 23,132 $ 16,142 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | October 31, 2023 January 31, 2023 Contract Assets: (in thousands) Unbilled revenue - current $ 53 $ 2 Total unbilled revenue $ 53 $ 2 Contract Liabilities: Deferred revenue & customer deposits - current $ 1,687 $ 571 Total deferred revenue & customer deposits $ 1,687 $ 571 |
Note 7 - Balance Sheet (Tables)
Note 7 - Balance Sheet (Tables) | 9 Months Ended |
Oct. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | October 31, 2023 January 31, 2023 (in thousands) Inventories: Raw materials $ 7,828 $ 6,798 Finished goods 3,075 2,744 Work in progress 3,618 2,699 Cost of inventories 14,521 12,241 Less allowance for obsolescence (1,258 ) (1,215 ) Total inventories, net $ 13,263 $ 11,026 |
Property, Plant and Equipment [Table Text Block] | October 31, 2023 January 31, 2023 (in thousands) Property and equipment: Furniture and fixtures $ 8,704 $ 8,739 Autos and trucks 382 341 Land and buildings 997 997 Cost of property and equipment 10,083 10,077 Accumulated depreciation and amortization (9,253 ) (9,124 ) Total property and equipment, net $ 830 $ 953 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 9 Months Ended |
Oct. 31, 2023 | |
Notes Tables | |
Assets and Liabilities, Lessee [Table Text Block] | Lease October 31, 2023 January 31, 2023 Assets (in thousands) Operating lease assets $ 1,517 $ 1,749 Liabilities Operating lease liabilities $ 1,517 $ 1,749 Classification of lease liabilities Current liabilities $ 833 $ 903 Non-current liabilities 684 846 Total Operating lease liabilities $ 1,517 $ 1,749 |
Lease, Cost [Table Text Block] | Lease term and discount rate October 31, 2023 January 31, 2023 Weighted average remaining lease term (years) Operating leases 1.69 1.98 Weighted average discount rate: Operating leases 13 % 13 % Lease Nine Months Ended October 31, 2023 Nine Months Ended October 31, 2022 Cash paid for amounts included in the measurement of lease liabilities: (in thousands) Operating cash flows from operating leases $ (621 ) $ (639 ) Changes in lease balances resulting from new and modified leases: Operating leases $ 391 $ 655 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | October 31, 2023 (in thousands) 2024 $ 299 2025 700 2026 338 2027 232 2028 235 Thereafter 33 Total payments under lease agreements $ 1,837 Less: imputed interest (320 ) Total lease liabilities $ 1,517 |
Note 9 - Intangible Assets (Tab
Note 9 - Intangible Assets (Tables) | 9 Months Ended |
Oct. 31, 2023 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | October 31, 2023 January 31, 2023 Weighted Average Life at Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying October 31, 2023 Amount Amortization Amount Amount Amortization Amount (in thousands) (in thousands) Proprietary rights 5.1 7,473 (4,943 ) 2,530 7,473 (4,612 ) 2,861 Customer relationships 0.1 4,884 (4,827 ) 57 4,884 (4,754 ) 130 Patents 1.6 2,540 (2,140 ) 400 2,540 (2,027 ) 513 Trade name 2.6 134 (105 ) 29 134 (97 ) 37 Other 0.4 396 (339 ) 57 375 (283 ) 92 Intangible assets $ 15,427 $ (12,354 ) $ 3,073 $ 15,406 $ (11,773 ) $ 3,633 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | For fiscal years ending January 31, (in thousands) 2024 $ 333 2025 538 2026 514 2027 316 2028 316 Thereafter 898 Total $ 2,915 |
Note 1 - Organization and Liq_2
Note 1 - Organization and Liquidity (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Aug. 21, 2023 | Jul. 31, 2023 | Apr. 30, 2023 | Oct. 31, 2023 | Oct. 31, 2022 | |
Working Capital (Deficit) | $ 16,500 | ||||
Cash | 5,600 | ||||
Unbilled Contracts Receivable | 37,400 | ||||
Payments of Ordinary Dividends, Preferred Stock and Preference Stock | $ 0 | $ 0 | 0 | $ 1,894 | |
Proceeds from Divestiture of Businesses, Net of Cash Divested | $ 10,832 | $ 0 | |||
Klein Marine Services, Inc. [Member] | |||||
Disposal Group, Including Discontinued Operation, Consideration | $ 11,500 | ||||
Proceeds from Divestiture of Businesses, Net of Cash Divested | $ 7,300 |
Note 2 - Sale of Subsidiary (De
Note 2 - Sale of Subsidiary (Details Textual) - Klein Marine Services, Inc. [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Aug. 21, 2023 | Oct. 31, 2023 | Oct. 31, 2023 | Oct. 31, 2022 | |
Disposal Group, Including Discontinued Operation, Consideration | $ 11,500 | |||
Gain (Loss) on Disposition of Business | $ 2,400 | $ 2,393 | $ 2,393 | $ 0 |
Note 4 - Discontinued Operati_3
Note 4 - Discontinued Operations - Held for Sale and Discontinued Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||
Aug. 21, 2023 | Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2023 | |
Total current assets of discontinued operations | $ 0 | $ 0 | $ 5,783 | |||
Total liabilities of discontinued operations | 0 | 0 | 2,420 | |||
Net income (loss) from discontinued operations | 2,277 | $ (2,276) | 1,424 | $ (2,683) | ||
Klein Marine Services, Inc. [Member] | ||||||
Gain (Loss) on Disposition of Business | $ 2,400 | 2,393 | 2,393 | 0 | ||
Gain on sale of Klein | $ (2,400) | (2,393) | (2,393) | 0 | ||
Discontinued Operations, Held-for-Sale [Member] | ||||||
Accounts receivable, net | 746 | |||||
Inventories, net | 4,292 | |||||
Prepaid expenses and other current assets | 745 | |||||
Total current assets of discontinued operations | 5,783 | |||||
Property and equipment, net | 2,992 | |||||
Intangible assets, net | 1,297 | |||||
Total assets of discontinued operations | 10,072 | |||||
Accounts payable | 1,607 | |||||
Accrued and other liabilities | 813 | |||||
Total liabilities of discontinued operations | $ 2,420 | |||||
Revenue from discontinued operations | 140 | 1,847 | 3,318 | 6,543 | ||
Cost of discontinued operations | 11 | 1,230 | 1,982 | 3,981 | ||
Selling, general and administrative | 179 | 680 | 1,348 | 2,109 | ||
Research and development | 45 | 431 | 689 | 1,628 | ||
Depreciation and amortization | 18 | 136 | 324 | 402 | ||
Total operating expenses | 242 | 1,247 | 2,361 | 4,139 | ||
Operating loss | (113) | (630) | (1,025) | (1,577) | ||
Other income (expense) (Including $1,626 of currency translation loss for the three and nine months ended October 31, 2022.) | 2 | (1,646) | 73 | (1,106) | ||
Income (loss) before income taxes from discontinued operations | 2,282 | (2,276) | 1,441 | (2,683) | ||
Provision for income taxes from discontinued operations | (5) | 0 | (17) | 0 | ||
Net income (loss) from discontinued operations | 2,277 | (2,276) | 1,424 | (2,683) | ||
Gross profit from sale of assets held-for-sale | 0 | (382) | ||||
Non-Cash cumulative translation adjustment for discontinued operations | 0 | 1,626 | ||||
Sale of assets held for sale | 0 | 383 | ||||
Discontinued Operations, Held-for-Sale [Member] | Klein Marine Services, Inc. [Member] | ||||||
Gain (Loss) on Disposition of Business | 2,393 | 0 | 2,393 | 0 | ||
Gain on sale of Klein | $ (2,393) | $ 0 | $ (2,393) | $ 0 |
Note 4 - Discontinued Operati_4
Note 4 - Discontinued Operations - Held for Sale and Discontinued Operations (Details) (Parentheticals) - USD ($) | 3 Months Ended | 9 Months Ended |
Oct. 31, 2022 | Oct. 31, 2022 | |
Discontinued Operations, Held-for-Sale [Member] | ||
Currency translation loss | $ (1,626) | $ (1,626) |
Note 6 - Revenue From Contrac_3
Note 6 - Revenue From Contracts With Customers (Details Textual) | 9 Months Ended |
Oct. 31, 2023 | |
Minimum [Member] | |
Contract with Customers, Turn Over Period (Month) | 3 months |
Maximum [Member] | |
Contract with Customers, Turn Over Period (Month) | 9 years |
Note 6 - Revenue From Contrac_4
Note 6 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Total revenue from contracts with customers | $ 4,974 | $ 3,038 | $ 23,132 | $ 16,142 |
Transferred at Point in Time [Member] | ||||
Total revenue from contracts with customers | 4,458 | 2,778 | 21,966 | 15,060 |
Transferred over Time [Member] | ||||
Total revenue from contracts with customers | 516 | 260 | 1,166 | 1,082 |
UNITED STATES | ||||
Total revenue from contracts with customers | 351 | 131 | 852 | 1,895 |
Europe [Member] | ||||
Total revenue from contracts with customers | 2,019 | 1,547 | 11,013 | 9,130 |
Asia Pacific [Member] | ||||
Total revenue from contracts with customers | 1,591 | 1,252 | 10,085 | 4,850 |
Other Countries [Member] | ||||
Total revenue from contracts with customers | $ 1,013 | $ 108 | $ 1,182 | $ 267 |
Note 6 - Revenue From Contrac_5
Note 6 - Revenue From Contracts With Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Unbilled revenue - current | $ 53 | $ 2 |
Total unbilled revenue | 53 | 2 |
Deferred revenue & customer deposits - current | 1,687 | 571 |
Total deferred revenue & customer deposits | $ 1,687 | $ 571 |
Note 7 - Balance Sheet (Details
Note 7 - Balance Sheet (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | |
Jan. 31, 2022 | Oct. 31, 2023 | |
Impairment, Long-Lived Asset, Held-for-Use | $ 0 | $ 0 |
Note 7 - Balance Sheet - Schedu
Note 7 - Balance Sheet - Schedule of Inventories (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Raw materials | $ 7,828 | $ 6,798 |
Finished goods | 3,075 | 2,744 |
Work in progress | 3,618 | 2,699 |
Cost of inventories | 14,521 | 12,241 |
Less allowance for obsolescence | (1,258) | (1,215) |
Total inventories, net | $ 13,263 | $ 11,026 |
Note 7 - Balance Sheet - Sche_2
Note 7 - Balance Sheet - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Property and equipment, gross | $ 10,083 | $ 10,077 |
Accumulated depreciation and amortization | (9,253) | (9,124) |
Total property and equipment, net | 830 | 953 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 8,704 | 8,739 |
Vehicles [Member] | ||
Property and equipment, gross | 382 | 341 |
Land and Building [Member] | ||
Property and equipment, gross | $ 997 | $ 997 |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Lease, Cost | $ 198,000 | $ 218,000 | $ 621,000 | $ 639,000 |
Short-Term Lease, Cost | $ 2,000 | $ 2,000 | $ 5,000 | $ 5,000 |
Note 8 - Leases - Supplemental
Note 8 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Operating lease assets | $ 1,517 | $ 1,749 |
Operating lease liabilities | 1,517 | 1,749 |
Current liabilities | 833 | 903 |
Non-current liabilities | 684 | 846 |
Total Operating lease liabilities | $ 1,517 | $ 1,749 |
Note 8 - Leases - Supplementa_2
Note 8 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2023 | |
Weighted average remaining lease term, Operating leases (Year) | 1 year 8 months 8 days | 1 year 11 months 23 days | |
Weighted average discount rate, Operating leases | 13% | 13% | |
Operating cash flows from operating leases | $ (621) | $ (639) | |
Right-of-use assets obtained in exchange for lease liabilities, Operating leases | $ 391 | $ 655 |
Note 8 - Leases - Maturities of
Note 8 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
2024 | $ 299 | |
2025 | 700 | |
2026 | 338 | |
2027 | 232 | |
2028 | 235 | |
Thereafter | 33 | |
Total payments under lease agreements | 1,837 | |
Less: imputed interest | (320) | |
Total lease liabilities | $ 1,517 | $ 1,749 |
Note 9 - Intangible Assets (Det
Note 9 - Intangible Assets (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | Jan. 31, 2023 | |
Finite-Lived Intangible Assets, Gross | $ 15,427,000 | $ 15,427,000 | $ 15,406,000 | ||
Amortization of Intangible Assets | 173,000 | $ 222,000 | 591,000 | $ 667,000 | |
Technology Development Projects That Have Not Been Completed [Member] | |||||
Finite-Lived Intangible Assets, Gross | $ 158,000 | $ 158,000 |
Note 9 - Intangible Assets - Sc
Note 9 - Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Amortizable intangible assets, gross carrying amount | $ 15,427 | $ 15,406 |
Amortizable intangible assets, accumulated amortization | (12,354) | (11,773) |
Intangible assets, net | 3,073 | 3,633 |
Proprietary Rights [Member] | ||
Amortizable intangible assets, gross carrying amount | 7,473 | 7,473 |
Amortizable intangible assets, accumulated amortization | (4,943) | (4,612) |
Intangible assets, net | $ 2,530 | 2,861 |
Proprietary Rights [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 5 years 1 month 6 days | |
Customer Relationships [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 4,884 | 4,884 |
Amortizable intangible assets, accumulated amortization | (4,827) | (4,754) |
Intangible assets, net | $ 57 | 130 |
Customer Relationships [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 1 month 6 days | |
Patents [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 2,540 | 2,540 |
Amortizable intangible assets, accumulated amortization | (2,140) | (2,027) |
Intangible assets, net | $ 400 | 513 |
Patents [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 1 year 7 months 6 days | |
Trade Names [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 134 | 134 |
Amortizable intangible assets, accumulated amortization | (105) | (97) |
Intangible assets, net | $ 29 | 37 |
Trade Names [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 2 years 7 months 6 days | |
Other Intangible Assets [Member] | ||
Amortizable intangible assets, gross carrying amount | $ 396 | 375 |
Amortizable intangible assets, accumulated amortization | (339) | (283) |
Intangible assets, net | $ 57 | $ 92 |
Other Intangible Assets [Member] | Weighted Average [Member] | ||
Weighted average life (Year) | 4 months 24 days |
Note 9 - Intangible Assets - Fu
Note 9 - Intangible Assets - Future Estimated Amortization Expense (Details) - USD ($) $ in Thousands | Oct. 31, 2023 | Jan. 31, 2023 |
Total | $ 3,073 | $ 3,633 |
Intangibles Excluding Technology Development Projects Not Yet Completed [Member] | ||
2024 | 333 | |
2025 | 538 | |
2026 | 514 | |
2027 | 316 | |
2028 | 316 | |
Thereafter | 898 | |
Total | $ 2,915 |
Note 10 - Notes Payable (Detail
Note 10 - Notes Payable (Details Textual) - The Loan [Member] - USD ($) | 3 Months Ended | 9 Months Ended | |
Feb. 02, 2023 | Oct. 31, 2023 | Oct. 31, 2023 | |
Proceeds from Notes Payable | $ 3,750,000 | ||
Amortization of Debt Issuance Costs | 814,000 | ||
Loan Processing Fee | 254,000 | ||
Prepaid Interest | $ 484,000 | ||
Interest Expense, Debt | $ 169,000 | $ 536,000 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2023 | Oct. 31, 2022 | Oct. 31, 2023 | Oct. 31, 2022 | |
Income Tax Expense (Benefit) | $ 112,000 | $ 38,000 | $ 590,000 | $ 380,000 |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | (1,597,000) | (2,845,000) | (2,001,000) | (6,435,000) |
Deferred Tax Liabilities, Undistributed Foreign Earnings | 0 | 0 | ||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 |
Note 12 - Earnings Per Share (D
Note 12 - Earnings Per Share (Details Textual) shares in Thousands | 3 Months Ended | 9 Months Ended | ||||
Oct. 12, 2023 | Sep. 28, 2023 | Oct. 31, 2023 shares | Oct. 31, 2022 shares | Oct. 31, 2023 shares | Oct. 31, 2022 shares | |
Weighted Average Number of Shares Outstanding, Basic (in shares) | 1,406 | 1,406 | 1,406 | 1,405 | ||
Reverse Stock Split [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 | 10 |
Note 13 - Related Party Trans_2
Note 13 - Related Party Transaction (Details Textual) - USD ($) | 3 Months Ended | |
Oct. 31, 2023 | Feb. 02, 2023 | |
Ladenburg Thalmann and Co. Inc. [Member] | Advisory Services Related to Sale of Klein [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 355,000 | |
The Loan [Member] | ||
Debt Instrument, Fee Amount | $ 50,000 |
Note 14 - Equity and Stock-ba_2
Note 14 - Equity and Stock-based Compensation (Details Textual) | 3 Months Ended | 9 Months Ended | ||||||
Oct. 12, 2023 | Sep. 28, 2023 shares | Oct. 31, 2023 USD ($) $ / shares shares | Oct. 31, 2022 USD ($) | Oct. 31, 2023 USD ($) $ / shares shares | Oct. 31, 2022 USD ($) | Sep. 27, 2023 shares | Jan. 31, 2023 shares | |
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | shares | 1,683,000 | 1,683,000 | 1,683,000 | |||||
Preferred Stock, Liquidation Preference, Value | $ | $ 46,800,000 | $ 46,800,000 | ||||||
Preferred Stock, Amount of Preferred Dividends in Arrears | $ | $ 4,700,000 | |||||||
Preferred Stock, Liquidation Preference Per Share (in dollars per share) | $ / shares | $ 25 | $ 25 | ||||||
Common Stock, Shares, Issued (in shares) | shares | 1,405,779 | 1,406,000 | 1,406,000 | 13,788,738 | 1,599,000 | |||
Share-Based Payment Arrangement, Expense | $ | $ 106,000 | $ 136,000 | $ 264,000 | $ 524,000 | ||||
Common Stock, Shares, Outstanding (in shares) | shares | 1,405,779 | 13,788,738 | ||||||
Reverse Stock Split [Member] | ||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 | 10 | ||||||
Preferred Stock [Member] | Quarterly Dividends [Member] | ||||||||
Dividends Payable, Amount Per Share (in dollars per share) | $ / shares | $ 0.5625 | $ 0.5625 |
Note 15 - Segment Reporting (De
Note 15 - Segment Reporting (Details Textual) | 9 Months Ended |
Oct. 31, 2023 | |
Number of Operating Segments | 2 |