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Note 14 - Treasury Stock

6 Months Ended

Jul. 31, 2023

Note 14 - Treasury stock

The repurchase program approved on October 4, 2021 authorized the Company to use up to $3.0 million for the purchase of its outstanding shares of common stock. Stock repurchases were permitted to be executed through open market or privately negotiated transactions, depending upon current market conditions and other factors. On December 7, 2022 the Board of Directors authorized the use of $1.0 million remaining under the share repurchase program previously approved on October 4, 2021 that expired on October 3, 2022. Share repurchases may be executed through open market or in privately negotiated transactions over the course of the 12 months following the Board of Directors authorization. During the three months ended July 31, 2023 the Company used $0.3 million of the $1.0 million authorized to repurchase its outstanding shares of common stock.

The following table sets forth the repurchase activity with respect to the Company's shares of common stock during the three months ended July 31, 2023 (in thousands, except per share information):

Period	*Total number of shares purchased*		*Average price paid (per share)*		*Total number of shares purchased as part of publicly announced plans or programs*		*Approximate dollar value of shares that may yet be purchased under the plans or programs*
May 1, 2023 - May 31, 2023		-	$	-		-	$	939
June 1, 2023 - June 30, 2023		-		-		-		939
July 1, 2023 - July 31, 2023		37		8.51		312		627
Total		37				312

On July 26, 2022, the Company retired 239,168 shares of treasury stock previously repurchased under the stock repurchase program. The retirement was recorded as a reduction to common stock based on the par value of the shares, and the excess over par value was recorded as a decrease to retained earnings in accordance with ASC 505-30, Equity - Treasury Stock.