Shareholders' Equity (Tables)
|
6 Months Ended |
Jul. 30, 2022 |
|---|
| Share-based Payment Arrangement, Noncash Expense [Abstract] |
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| Schedule of warrants outstanding |
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Warrants |
|
Warrants |
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Exercise Price |
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|
Grant Date |
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Outstanding |
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Exercisable |
|
(Per Share) |
|
Expiration Date |
May 2, 2019 |
|
349,998 |
|
349,998 |
|
$ |
15.00 |
|
May 2, 2024 |
April 17, 2020 |
|
367,197 |
|
367,197 |
|
$ |
2.66 |
|
April 14, 2025 |
May 22, 2020 |
|
122,398 |
|
122,398 |
|
$ |
2.66 |
|
April 14, 2025 |
June 8, 2020 |
|
122,399 |
|
122,399 |
|
$ |
2.66 |
|
April 14, 2025 |
June 12, 2020 |
|
122,398 |
|
122,398 |
|
$ |
2.66 |
|
April 14, 2025 |
July 11, 2020 |
|
244,798 |
|
244,798 |
|
$ |
2.66 |
|
April 14, 2025 |
May 16, 2022 |
|
5,537,459 |
|
5,537,459 |
|
$ |
2.94 |
|
May 14, 2028 |
May 16, 2022 |
|
3,257,459 |
|
3,257,459 |
|
$ |
0.0001 |
|
N/A |
July 22, 2022 |
|
97,720 |
|
97,720 |
|
$ |
2.94 |
|
July 20, 2028 |
July 22, 2022 |
|
1,628,665 |
|
1,628,665 |
|
$ |
2.94 |
|
July 20, 2028 |
July 22, 2022 |
|
505,563 |
|
505,563 |
|
$ |
0.0001 |
|
N/A |
|
| Schedule of stock options valuation assumptions |
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Fiscal 2022 |
Expected volatility: |
|
82-83% |
Expected term (in years): |
|
6 years |
Risk-free interest rate: |
|
2.4-2.7% |
|
| Schedule of stock option activity |
A summary of the status of the Company’s stock options outstanding as of July 30, 2022 and changes during the six months then ended is as follows:
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2020 Plan |
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2011 Plan |
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2004 Plan |
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|
Option |
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Weighted Average |
|
Option |
|
Weighted Average |
|
Option |
|
Weighted Average |
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|
Shares |
|
Exercise Price |
|
Shares |
|
Exercise Price |
|
Shares |
|
Exercise Price |
Balance outstanding, January 29, 2022 |
|
147,500 |
|
$ |
7.33 |
|
25,700 |
|
$ |
10.04 |
|
3,000 |
|
$ |
53.49 |
Granted |
|
51,000 |
|
$ |
3.44 |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
Exercised |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
Forfeited or canceled |
|
(28,500) |
|
$ |
6.31 |
|
(10,000) |
|
$ |
10.87 |
|
— |
|
$ |
46.20 |
Balance outstanding, July 30, 2022 |
|
170,000 |
|
$ |
6.33 |
|
15,700 |
|
$ |
9.51 |
|
3,000 |
|
$ |
54.70 |
Options exercisable at July 30, 2022 |
|
18,000 |
|
$ |
8.92 |
|
15,700 |
|
$ |
9.51 |
|
3,000 |
|
$ |
54.70 |
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| Schedule of stock options outstanding, vested and expected to vest |
The following table summarizes information regarding stock options outstanding as of July 30, 2022:
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Options Outstanding |
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Options Vested or Expected to Vest |
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Weighted |
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|
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Weighted |
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|
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Weighted |
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Average |
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Weighted |
|
Average |
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Average |
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Remaining |
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Aggregate |
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Average |
|
Remaining |
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Aggregate |
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Number of |
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Exercise |
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Contractual |
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Intrinsic |
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Number of |
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Exercise |
|
Contractual |
|
Intrinsic |
Option Type |
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Shares |
|
Price |
|
Life (Years) |
|
Value |
|
Shares |
|
Price |
|
Life (Years) |
|
Value |
2020 Plan |
|
170,000 |
|
$ |
6.33 |
|
9.1 |
|
$ |
— |
|
149,800 |
|
$ |
6.36 |
|
9.1 |
|
$ |
— |
2011 Plan |
|
15,700 |
|
$ |
9.51 |
|
5.6 |
|
$ |
— |
|
15,700 |
|
$ |
9.51 |
|
5.6 |
|
$ |
— |
2004 Plan |
|
3,000 |
|
$ |
54.70 |
|
1.6 |
|
$ |
— |
|
3,000 |
|
$ |
54.70 |
|
1.6 |
|
$ |
— |
|
| Schedule of restricted stock unit activity |
A summary of the status of the Company’s non-vested restricted stock unit activity as of July 30, 2022 and changes during the six-month period then ended is as follows:
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Restricted Stock Units |
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Market-Based Units |
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Time-Based Units |
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Performance-Based Units |
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Total |
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|
Weighted |
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|
|
Weighted |
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|
|
Weighted |
|
|
|
Weighted |
|
|
|
|
Average |
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|
|
Average |
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|
Average |
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|
Average |
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|
|
|
Grant Date |
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|
|
Grant Date |
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|
|
Grant Date |
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|
|
Grant Date |
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|
Shares |
|
Fair Value |
|
Shares |
|
Fair Value |
|
Shares |
|
Fair Value |
|
Shares |
|
Fair Value |
Non-vested outstanding, January 29, 2022 |
|
57,800 |
|
$ |
3.47 |
|
1,031,300 |
|
$ |
7.46 |
|
222,900 |
|
$ |
4.13 |
|
1,312,000 |
|
$ |
6.72 |
Granted |
|
— |
|
$ |
— |
|
975,600 |
|
$ |
3.74 |
|
36,400 |
|
$ |
1.69 |
|
1,012,000 |
|
$ |
3.67 |
Vested |
|
— |
|
$ |
— |
|
(450,500) |
|
$ |
6.67 |
|
— |
|
$ |
— |
|
(450,500) |
|
$ |
6.67 |
Forfeited |
|
— |
|
$ |
— |
|
(67,100) |
|
$ |
5.26 |
|
— |
|
$ |
— |
|
(67,100) |
|
$ |
5.26 |
Expired |
|
(12,500) |
|
$ |
5.07 |
|
— |
|
$ |
— |
|
— |
|
$ |
— |
|
(12,500) |
|
$ |
5.07 |
Non-vested outstanding, July 30, 2022 |
|
45,300 |
|
$ |
3.02 |
|
1,489,300 |
|
$ |
5.36 |
|
259,300 |
|
$ |
3.79 |
|
1,793,900 |
|
$ |
5.07 |
|