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STOCKHOLDERS' EQUITY (Tables) | 12 Months Ended
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Jan. 31, 2020
Equity [Abstract] |
Schedule of nonvested share activity |
|  | Number of shares awarded total |
|  | Minimum |  |  | Target |  |  | Maximum |  |  | Cap |
Employees |  |  | 17,834 |  |  |  | 26,753 |  |  |  | 35,670 |  |  |  | 42,805 |
Non-Employee Directors |  |  | 7,168 |  |  |  | 10,752 |  |  |  | 14,336 |  |  |  | 17,204 |
Total |  |  | 25,002 |  |  |  | 37,505 |  |  |  | 50,006 |  |  |  | 60,009 |
|  | Value at grant date (numbers below are rounded to the nearest 100) |
|  | Minimum |  |  | Target |  |  | Maximum |  |  | Cap |
Employees |  | $ | 248,800 |  |  | $ | 373,200 |  |  | $ | 497,600 |  |  | $ | 597,120 |
Non-Employee Directors |  |  | 100,000 |  |  |  | 150,000 |  |  |  | 200,000 |  |  |  | 240,000 |
Total |  | $ | 348,800 |  |  | $ | 523,200 |  |  | $ | 697,600 |  |  | $ | 837,120 |
Schedule of share-based compensation |
|  | Number of shares awarded total |
|  | Minimum |  |  | Target |  |  | Maximum |
Employees |  |  | 48,186 |  |  |  | 74,133 |  |  |  | 88,960 |
Non-Employee Directors |  |  | 16,360 |  |  |  | 25,168 |  |  |  | 30,204 |
Total |  |  | 64,546 |  |  |  | 99,301 |  |  |  | 119,164 |
|  | Value at grant date (numbers below are rounded to the nearest $100) |
|  | Minimum |  |  | Target |  |  | Maximum |
Employees |  | $ | 497,800 |  |  | $ | 765,800 |  |  | $ | 918,960 |
Non-Employee Directors |  |  | 169,000 |  |  |  | 260,000 |  |  |  | 312,000 |
Total |  | $ | 666,800 |  |  | $ | 1,025,800 |  |  | $ | 1,230,960 |
Schedule of restricted stock units award activity |
|  | Year Ended January 31, |
|  | 2020 |  |  | 2019 |
2017 Plan: |  |  |  |  |  |
Restricted Stock Program |  | $ | (443,441 | ) |  | $ | 721,111 |
Stock Options |  |  | 27,577 |  |  |  | ----- |
Cash-based Bonus |  |  | 38,677 |  |  |  | ----- |
|  | $ | (377,187 | ) |  | $ | 721,111 |
Stock appreciation rights |  | $ | (25,559 | ) |  | $ | 22,646 |
Total stock-based compensation |  | $ | (402,746 | ) |  | $ | 743,757 |
Total income tax benefit (expense) recognized for stock-based compensation arrangements |  | $ | (85,577 | ) |  | $ | 267,752 |
Schedule of stock option activity |
Shares issued under 2017 |  | Outstanding Unvested Grants at Maximum at Beginning of FY20 |  |  | Granted during FY20 |  |  | Becoming Vested during FY20 |  |  | Forfeited during FY20 |  |  | Outstanding Unvested Grants at Maximum at End of January 31, FY20 |
Restricted stock grants – employees |  |  | 84,126 |  |  |  | ----- |  |  |  | ----- |  |  |  | 48,456 |  |  |  | 35,670 |
Restricted stock grants – non-employee directors |  |  | 28,829 |  |  |  | ----- |  |  |  | ----- |  |  |  | 14,493 |  |  |  | 14,336 |
Retainer in stock – non-employee directors |  |  | 25,044 |  |  |  | 7,292 |  |  |  | 7,568 |  |  |  | ---- |  |  |  | 24,768 |
Total restricted stock |  |  | 137,999 |  |  |  | 7,292 |  |  |  | 7,568 |  |  |  | 62,949 |  |  |  | 74,774 |
Weighted average grant date fair value |  |  | 13.77 |  |  |  | 10.44 |  |  |  | 14.72 |  |  |  | 13.82 |  |  |  | 11.53 |
Stock Options |  | Number of Shares |  |  | Weighted Average Exercise Price per Share |  |  | Weighted Average Remaining Contractual Term (in years) |  |  | Aggregate Intrinsic Value |
Outstanding at January 31, 2019 |  |  | ----- |  |  | $ | ----- |  |  |  | ----- |  |  | $ | ----- |
Granted |  |  | 24,900 |  |  | $ | 11.17 |  |  |  | ----- |  |  |  | ----- |
Outstanding at January 31, 2020 |  |  | 24,900 |  |  | $ | 11.17 |  |  |  | 9.53 |  |  |  | ----- |
Exercisable at January 31, 2020 |  |  | ----- |  |  | $ | ----- |  |  |  | ----- |  |  | $ | ----- |
Assumptions used to calculate the fair value of the options granted |
|  | FY20 |
Expected volatility |  |  | 53 | %
Expected life in years |  |  | 10 |
Expected dividend yield |  |  | 0.00 | %
Risk-free interest rate |  |  | 1.65 | %

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