XML 38 R19.htm IDEA: XBRL DOCUMENT v3.2.0.727
Stock Based Compensation (Tables)
 6 Months Ended
Jul. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Restricted Shares Activity

The following table summarizes restricted share activity during the six months ended July 31, 2015:

 

      Restricted Shares  
      Shares     Weighted-Average
Per Share Grant
Date Fair Value		  
Balance at January 31, 2015       -       -  
Granted       21,000     $ 2.72  
Vested       (12,000 )   $ 2.72  
Forfeited       -       -  
Balance of unvested awards at July 31, 2015       9,000     $ 2.72  
Schedule of Stock Option Vested

The 2015 Plan Agreement has the following vesting schedule:

 

Tranche     Shares for which the Stock
Option is Vested		     Vesting Date
A       1/3     5/17/2016
B       1/3     2nd anniversary of the Date of Grant
C       1/3     3rd anniversary of the Date of Grant
Schedule of Performance Objective for Applicable Performance Period

Vested tranches become exercisable as set forth below to the extent that the GAAP pre-tax profit of IBC Hotels LLC is greater than or equal to the performance objective for the applicable performance period as described below.

 

Performance Period
(Fiscal Year Ending)		     Performance Objective
(GAAP pre-tax profit of IBC Hotels LLC)		     Exercisable
Tranche(s)
1/31/2016     $ 60,000     A
1/31/2017     $ 200,000     A and B
1/31/2018     $ 400,000     A, B, and C