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Convertible Notes Payable (Tables)
 6 Months Ended
Jul. 31, 2013
Convertible Notes [Line Items]  
Schedule of long-term debt instruments
 
 
 
July 31,
 
January 31,
 
 
 
2013
 
2013
 
 
 
 
 
 
 
 
 
10% Senior Subordinated Convertible Notes due January 31, 2016, net of debt discount of $149,981 (July 31, 2013) and $183,389 (January 31, 2013)
 
$
1,100,019
 
$
1,066,611
 
9% Senior Subordinated Convertible Notes due February 15, 2016, net of debt discount of $186,847 (July 31, 2013) and $186,897 (January 31, 2013)
 
 
913,152
 
 
693,103
 
8% Senior Subordinated Convertible Notes due February 1, 2015
 
 
150,000
 
 
150,000
 
Total Convertible Notes
 
 
2,163,171
 
 
1,909,714
 
Less: Current Portion
 
 
-
 
 
-
 
Long Term Portion
 
$
2,163,171
 
$
1,909,714
 
Schedule Of Debt Instruments Interest Expense
Interest expense associated with the convertible notes payable consisted of the following:
 
 
 
Three months ended July 31,
 
Six months ended July 31,
 
 
 
2013
 
2012
 
2013
 
2012
 
Interest expense
 
$
57,750
 
$
34,250
 
$
111,801
 
$
68,500
 
Amortization of loan fees
 
 
37,388
 
 
9,375
 
 
56,041
 
 
18,750
 
Amortization of debt discount
 
 
37,938
 
 
163,458
 
 
70,777
 
 
326,916
 
 
 
$
133,076
 
$
207,083
 
$
238,620
 
$
414,166
 
Placement agent warrants
  
Convertible Notes [Line Items]  
Schedule of total expenes recognized for warrants for debt
The fair value of the warrants issued during the six months ended July 31, 2013 was $50,937 based on the Company’s closing stock price at the transaction dates and weighted-average inputs to the Black-Scholes option pricing model as follows: 
   
Exercise Price
 
$
0.42
 
Expected Term (in years)
 
 
5.00
 
Volatility
 
 
48.0
%
Dividend rate
 
 
0.0
%
Interest rate
 
 
0.7
%