Note

- Stock-based compensation

The Company's

2017

Omnibus Stock Incentive Plan dated

June 13, 2017,

as amended, which the Company's stockholders approved in

June 2017 (

"2017

Plan"), expired in

June 2020.

Prior to the

2017

Plan's expiration, grants were made to the Company's employees, officers and independent directors, as described below.

The Company has prior incentive plans under which previously granted awards remain outstanding, but under which

new awards

may

be granted. At

October 31, 2020

the Company had reserved a total of

529,570

shares for grants and issuances under these incentive stock plans, which includes a reserve for issuances pursuant to unvested or unexercised prior awards.

While the

2017

Plan provided for the grant of deferred shares, non-qualified stock options, incentive stock options, restricted shares, restricted stock units, and performance-based restricted stock units intended to qualify under section

422

of the Internal Revenue Code, the Company issued only restricted shares and restricted stock units under the

2017

Plan. The

2017

Plan authorized awards to officers, employees, consultants and independent directors.

The Company has granted stock-based compensation awards to eligible employees, officers or independent directors. The following were the Company's stock-based compensation expenses for the periods presented:

	Three Months Ended October 31,				Nine Months Ended October 31,
	2020		2019		2020		2019
Stock-based compensation expense	$	-	$	2	$	3	$	10
Restricted stock-based compensation expense		285		224		761		776
Total stock-based compensation expense	$	285	$	226	$	764	$	786

Stock Options

The Company did

not

grant any stock options during the

three

nine

months ended

October 31, 2020

. The following tables summarizes the Company's stock option activity:

Option activity	No. of Shares Underlying Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Outstanding at January 31, 2020		132		$	8.98		3.2	$	160
Expired or forfeited		(18	)		-		-		-
Outstanding at October 31, 2020		114			9.20		2.6		-

Exercisable at October 31, 2020		114		$	9.20		2.6	$	-

stock options were exercised during the

nine

months ended

October 31, 2020

Unvested option activity	No. of Shares Underlying Options			Weighted Average Grant Date Fair Value		Aggregate Intrinsic Value
Outstanding at January 31, 2020		3		$	7.33	$	4
Vested		(3	)		-		-
Expired or forfeited		-			-		-
Outstanding at October 31, 2020		-		$	-	$	-

As of

October 31, 2020

, there were

remaining unvested stock options outstanding, and therefore

unrecognized compensation expense related to unvested stock options.

Restricted stock

The following table summarizes the Company's restricted stock activity for the

nine

months ended

October 31, 2020

Restricted stock activity	Restricted Shares			Weighted Average Grant Price Per Share		Aggregate Intrinsic Value
Outstanding at January 31, 2020		321		$	8.89	$	2,857
Granted		156			5.88
Vested and issued		(63	)		8.96
Forfeited or retired for taxes		(38	)		8.20
Outstanding at October 31, 2020		376		$	7.61	$	2,857

As of

October 31, 2020

, there was

$1.6

million of unrecognized compensation expense related to unvested restricted stock granted under the

2017

Plan. That cost is expected to be recognized over a weighted average period of

1.9

years.