Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share (Tables)

v3.21.2
Net Loss Per Common Share (Tables)
6 Months Ended
Jul. 31, 2021
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

Three-Month Periods Ended

Six-Month Periods Ended

    

July 31,

August 1,

    

July 31,

August 1,

    

2021

    

2020

2021

    

2020

Numerator:

 

  

 

  

 

  

 

  

 

Net (loss) income

$

(4,381,000)

$

1,054,000

$

(7,759,000)

$

(5,774,000)

Earnings allocated to participating share awards (a)

 

 

(5,000)

 

 

Net (loss) income attributable to common shares — Basic and diluted

$

(4,381,000)

$

1,049,000

$

(7,759,000)

$

(5,774,000)

Denominator:

 

  

 

  

 

  

 

  

Weighted average number of common shares outstanding — Basic (b)

 

19,101,652

 

9,532,369

 

17,314,317

 

8,911,580

Dilutive effect of stock options, non-vested shares and warrants (c)

 

 

364,360

 

 

Weighted average number of common shares outstanding — Diluted

 

19,101,652

 

9,896,729

 

17,314,317

 

8,911,580

Net (loss) income per common share

$

(0.23)

$

0.11

$

(0.45)

$

(0.65)

Net (loss) income per common share — assuming dilution

$

(0.23)

$

0.11

$

(0.45)

$

(0.65)

(a) During fiscal 2018, the Company issued a restricted stock award that is a participating security. For the three- and six- month periods ended July 31, 2021 and for the six-month period ended August 1, 2020, the entire undistributed loss is allocated to common shareholders.
(b) For the three and six-month periods ended July 31, 2021, the basic earnings per share computation included 21,000 outstanding fully-paid warrants to purchase shares of the Company’s common stock at a price of $0.001 per share.
(c) For the six--month periods ended July 31, 2021 and August 1, 2020 there were 650,000 and 218,000 incremental in-the-money potentially dilutive common shares outstanding. The incremental in-the-money potentially dilutive common stock shares are excluded from the computation of diluted earnings per share, as the effect of their inclusion would be anti-dilutive.