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Related Party Transaction | 12 Months Ended
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Jan. 31, 2018
Related Party Transactions [Abstract] |
Related Party Transaction | Related Party Transaction On June 8, 2016, the Company issued 320,000 shares of the Series A Preferred Stock, pursuant to an underwriting agreement, dated June 2, 2016, by and between the Company and Ladenburg Thalmann & Co. Inc. The Co-Chief Executive Officer and Co-President of Ladenburg Thalmann & Co. Inc is the Non-Executive Chairman of the Company’s board of directors. The underwriter received underwriting discounts and commissions totaling $440,000 in connection with this offering. In addition, the underwriter received a structuring fee equal to 0.50% of the gross proceeds from this offering, or $40,000. The Non-Executive Chairman of the Company received no portion of these commissions, discounts and fees. On October 7, 2016 the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) with Ladenburg Thalmann & Co. Inc. (the “Agent”), pursuant to which the Company may sell up to 500,000 shares of the Series A Preferred Stocked through the Agent through an at the market (“ATM”) offering program. Under the Equity Distribution Agreement, the Agent will be entitled to compensation of up to 2.0% of the gross proceeds from the sale of Series A Preferred Stock under the ATM program. For the twelve months ended January 31, 2018, the Company issued 188,822 shares of Series A Preferred Stock under the ATM offering program. Gross proceeds from these sales were approximately $4.4 million and the Agent received compensation of approximately $86,000. For the three months ended January 31, 2018, the Company issued 106,918 shares of Series A Preferred stock under the ATM offering program. Gross proceeds from these sales were approximately $2.5 million and the Agent received compensation of approximately $49,000, resulting in net proceeds to the Company of $2.4 million for the three months ended January 31, 2018. The Non-Executive Chairman of the Company received no portion of this compensation.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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