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Discontinued Operations in India
 3 Months Ended
Apr. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

16. Discontinued Operations in India

 

The Company decided to discontinue operations in its India glove manufacturing facility and put the assets and business up for sale. The Company decided to sell this division primarily because it has incurred significant operating losses since inception, and the Company has been unsuccessful in developing sufficient sales to reach at least break even. The Company attempted to sell the operations as an ongoing operation but shut down its operations in December 2011. Total assets of discontinued operations were reduced $69,000 in the quarter primarily as a result of inventory write-downs.

 

In conjunction with the discontinuance of operations, the Company, in the year ended January 31, 2012, recognized a pretax loss on shutdown and sale of assets of $1.7 million, primarily consisting of $1.0 million in fixed asset write-downs and $0.1 million in inventory write-downs. In the year ended January 31, 2013, the Company took a further write-down of fixed assets in the amount of $0.8 million. The assets and liabilities of the discontinued operations are presented separately under the captions “Assets of discontinued operations in India” and “Liabilities of discontinued operations in India,” respectively, in the accompanying Balance Sheets at January 31, 2013 and January 31, 2012, and consist of the following:

   

    April 30, 2013     January 31, 2013  
Inventory   $ 29,449     $ 85,170  
Other current asset     —       10,024  
Property and equipment     715,071       717,988  
Total assets of discontinued operations     744,520       813,182  
Liabilities of discontinued operations:                
Accounts payable     —       2,759  
Other liabilities     —       22,282  
Total liabilities of discontinued operations     —       25,041  
                 
Net assets of discontinued operations   $ 744,520     $ 788,141