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Convertible Notes Payable (Tables)
 12 Months Ended
Jan. 31, 2014
Convertible Notes [Line Items]  
Schedule of long-term debt instruments
The Company’s long-term debt consisted of the following at January 31: 
 
 
 
January 31,
 
January 31,
 
 
 
2014
 
2013
 
 
 
 
 
 
 
 
 
10% Senior Subordinated Convertible Notes redeemed in fiscal year 2014
 
$
-
 
$
1,066,611
 
9% Senior Subordinated Convertible Notes due February 15, 2016, net of debt discount of $149,478 (January 31, 2014) and $186,897 (January 31, 2013)
 
 
950,522
 
 
693,103
 
8% Senior Subordinated Convertible Notes due February 1, 2015
 
 
150,000
 
 
150,000
 
Total Convertible Notes
 
 
1,100,522
 
 
1,909,714
 
Less: Current Portion
 
 
-
 
 
-
 
Long Term Portion
 
$
1,100,522
 
$
1,909,714
 
Schedule of total expense recognized for warrants for debt
stock dividends and reverse stock splits as follows:
 
Fees and expenses
 
$
101,179
 
 
 
 
 
 
Fair value of placement agent warrants
 
$
54,468
 
Schedule Of Debt Instruments Interest Expense
Interest expense associated with the convertible notes payable consisted of the following for the year ended January 31:
 
 
 
2014
 
2013
 
Interest expense
 
$
218,403
 
$
137,000
 
Amortization of loan fees
 
 
96,454
 
 
5,831
 
Amortization of debt discount
 
 
134,601
 
 
676,055
 
 
 
$
449,458
 
$
818,886
 
Schedule of Maturities of Long-term Debt [Table Text Block]
Convertible notes maturing after one year consists of the following:
 
Year ending January 31,
 
 
 
 
2016
 
$
150,000
 
2017
 
$
950,522
 
Placement agent warrants
  
Convertible Notes [Line Items]  
Schedule Of Class Of Right Or Warrant Fair Value Assumption
The fair value of the placement agent warrants was based on the Company’s closing stock price at the transaction date and inputs to the Black-Scholes option pricing model as follows:
 
Exercise price
 
$
0.40
 
Expected life (years)
 
 
5.00
 
Volatility
 
 
36.70
%
Risk-free interest rate
 
 
0.70
%
Dividends
 
 
0.00
%
Note warrant
  
Convertible Notes [Line Items]  
Schedule Of Class Of Right Or Warrant Fair Value Assumption
The fair value of the 9% Notes warrants was based on the Company’s closing stock price at the transaction date and inputs to the Black-Scholes option pricing model as follows:
 
Fair value of 9% Notes warrants
 
$
186,897
 
 
 
 
 
 
Exercise price
 
$
0.45
 
Expected life (years)
 
 
5.00
 
Volatility
 
 
36.70
%
Risk-free interest rate
 
 
0.70
%
Dividends
 
 
0.00
%
Warrant [Member]
  
Convertible Notes [Line Items]  
Schedule Of Class Of Right Or Warrant Fair Value Assumption
The fair value of the warrants issued during the year ended January 31, 2014 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
%