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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Oct. 31, 2014
Jan. 31, 2014
Current assets    
Cash and cash equivalents $ 7,046,912 $ 4,555,097
Accounts receivable, net of allowance for doubtful accounts of approximately $482,400 and $588,800 at October 31, 2014 and January 31, 2014, respectively 15,098,336 13,795,301
Inventories, net of reserves of approximately $2,992,000 and $3,572,000 at October 31, 2014 and January 31, 2014, respectively 38,921,463 39,844,309
Deferred income taxes 4,807,895 4,707,278
Prepaid income tax 1,455,435 470,843
Other current assets 2,544,245 2,108,177
Total current assets 69,874,286 65,481,005
Property and equipment, net 11,768,421 12,069,107
Prepaid VAT and other taxes, noncurrent 2,458,921 2,379,395
Security deposits, mainly judicial deposits in Brazil 1,295,883 1,415,372
Intangibles, prepaid bank fees and other assets, net 493,566 1,533,349
Goodwill 871,297 871,297
Total assets 86,762,374 83,749,525
Current liabilities    
Accounts payable 9,484,343 8,181,026
Accrued compensation and benefits, mainly accrued payroll 2,411,537 1,189,324
Other accrued expenses 2,574,135 1,554,231
Current maturity of long-term debt 50,000 50,000
Current maturity of arbitration settlement 1,000,000 1,000,000
Short-term borrowing 3,686,387 2,558,545
Borrowings under revolving credit facility 5,133,739 12,415,424
Total current liabilities 24,340,141 26,948,550
Accrued arbitration award in Brazil (net of current maturities) 3,103,784 3,758,691
Long-term portion of Canada and Brazil loans 924,001 1,110,634
Subordinated debt, net of original issue discount (“OID”), including PIK interest 0 1,525,392
Other liabilities - accrued legal fees in Brazil 77,285 71,223
VAT taxes payable long term 3,361,774 3,329,275
Total liabilities 31,806,985 36,743,765
Stockholders' equity    
Preferred stock, $.01 par; authorized 1,500,000 shares (none issued) 0 0
Common stock, $.01 par; authorized 10,000,000 shares, issued 7,399,234 and 5,713,180; outstanding 7,042,793 and 5,356,739 at October 31, 2014 and January 31, 2014, respectively 73,992 57,132
Treasury stock, at cost; 356,441 shares at October 31, 2014 and January 31, 2014 (3,352,291) (3,352,291)
Additional paid-in capital 64,568,292 53,365,286
Accumulated deficit (3,477,840) (591,945)
Accumulated other comprehensive loss (2,856,764) (2,472,422)
Total stockholders' equity 54,955,389 47,005,760
Total liabilities and stockholders' equity $ 86,762,374 $ 83,749,525