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Stockholders’ Equity
 6 Months Ended
Jul. 31, 2022
Equity [Abstract]  
Stockholders’ Equity

Note 9 - Stockholders’ Equity

 

Options

 

The following is a summary of the Company’s option activity:

 

   Options   Weighted Average
Exercise Price		 
Outstanding – January 31, 2022   669,000   $0.66 
Exercisable – January 31, 2022   666,500   $0.65 
Granted   150,000   $1.48 
Exercised   (130,000)  $1.00 
Outstanding – July 31, 2022   689,000   $0.77 
Exercisable – July 31, 2022   539,000   $0.57 

 

      Options Outstanding           Options Exercisable  
Exercise Price     Number
Outstanding		     Weighted
Average
Remaining
Contractual Life
(in years)		     Weighted
Average
Exercise
Price		     Number
Exercisable		     Weighted
Average
Exercise
Price		  
$ 0.39 – 1.48       689,000       2.83     $ 0.77       539,000     $ 0.57  

 

At July 31, 2022, the total intrinsic value of options outstanding and exercisable was $478,140.

 

During the six months ended July 31, 2022, the members of the board of directors and the CFO exercised 130,000 options at an average exercise price of $1.00 per share in exchange for 57,093 shares of common stock.

 

During the six months ended July 31, 2021, six employees exercised a total of 152,000 options at an average exercise price of $0.72 per share for aggregate proceeds of $19,080 in exchange for 121,310 shares of common stock.

 

For the six months ended July 31, 2022 and 2021, the Company recognized share-based compensation related to options of an aggregate of $12,333 and $786, respectively. At July 31, 2022, there was unrecognized share-based compensation of $167,741.