Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.10.0.1
Shareholders' Equity (Tables)
6 Months Ended
Aug. 04, 2018
Share-based Compensation [Abstract]  
Schedule of warrants outstanding [Table Text Block]
The following table summarizes information regarding Warrants outstanding at August 4, 2018:
Grant Date
 
Shares of common stock purchasable
 
Exercise Price
(Per Share)
 
Expiration Date
September 19, 2016
 
2,976,190

 
$2.90
 
September 19, 2021
November 10, 2016
 
333,873

 
$3.00
 
November 10, 2021
January 23, 2017
 
489,302

 
$1.76
 
January 23, 2022
March 16, 2017
 
50,000

 
$1.92
 
March 16, 2022
Schedule of stock options valuation assumptions [Table Text Block]
The fair value of each time-based vesting option award is estimated on the date of grant using the Black-Scholes option pricing model that uses assumptions noted in the following table, and a Monte Carlo valuation model is used for market-based vesting awards. Expected volatilities are based on the historical volatility of the Company's stock. Expected term is calculated using the simplified method taking into consideration the option's contractual life and vesting terms. The Company uses the simplified method in estimating its expected option term because it believes that historical exercise data cannot be accurately relied upon at this time to provide a reasonable basis for estimating an expected term due to the extreme volatility of its stock price and the resulting unpredictability of its stock option exercises. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. Expected dividend yields were not used in the fair value computations as the Company has never declared or paid dividends on its common stock and currently intends to retain earnings for use in operations.
 
Fiscal 2018
 
Fiscal 2017
Expected volatility:
72%
 
81%
Expected term (in years):
6 years
 
6 years
Risk-free interest rate:
2.8%
-
3.0%
 
2.0%
-
2.2%
Schedule of stock option activity [Table Text Block]
A summary of the status of the Company’s stock option activity as of August 4, 2018 and changes during the six months then ended is as follows:
 
2011
Incentive
Stock
Option
Plan
 
Weighted
Average
Exercise
Price
 
2004
Incentive
Stock
Option
Plan
 
Weighted
Average
Exercise
Price
Balance outstanding, February 3, 2018
3,384,000

 
$
1.64

 
112,000

 
$
4.86

Granted
2,198,000

 
$
1.02

 

 
$

Exercised
(112,000
)
 
$
0.99

 

 
$

Forfeited or canceled
(333,000
)
 
$
1.49

 
(5,000
)
 
$
4.62

Balance outstanding, August 4, 2018
5,137,000

 
$
1.40

 
107,000

 
$
4.87

Options exercisable at August 4, 2018
1,585,000

 
$
1.93

 
107,000

 
$
4.87

Schedule of stock options outstanding, vested and expected to vest [Table Text Block]
The following table summarizes information regarding stock options outstanding at August 4, 2018:
 
Options Outstanding
 
Options Vested or Expected to Vest
Option Type
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life
(Years)
 
Aggregate
Intrinsic
Value
 
Number of
Shares
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Life
(Years)
 
Aggregate
Intrinsic
Value
2011 Incentive:
5,137,000

 
$
1.40

 
8.7
 
$
813,000

 
4,619,000

 
$
1.43

 
8.6
 
$
682,000

2004 Incentive:
107,000

 
$
4.87

 
5.3
 
$

 
107,000

 
$
4.87

 
5.3
 
$

Schedule of grant date fair value assumptions, market-based restricted stock performance units [Table Text Block]
Grant date fair values were determined using a Monte Carlo valuation model based on assumptions as follows:
 
Fiscal 2018
 
Fiscal 2017
Total grant date fair value
$859,000
 
$860,000
Total grant date fair value per share
$1.07
-
$1.30
 
$1.53
Expected volatility
73%
-
76%
 
75%
Weighted average expected life (in years)
3 years
 
3 years
Risk-free interest rate
2.4%
-
2.7%
 
1.5%
Schedule of vesting criteria, market-based restricted stock performance units [Table Text Block]
The percent of the target market-based performance vested restricted stock unit award that will be earned based on the Company's TSR relative to the peer group is as follows:
Percentile Rank
 
Percentage of
Units Vested
< 33%
 
0%
33%
 
50%
50%
 
100%
100%
 
150%
Schedule of restricted stock unit activity [Table Text Block]
A summary of the status of the Company’s non-vested restricted stock unit activity as of August 4, 2018 and changes during the six-month period then ended is as follows:
 
Restricted Stock Units
 
Market-Based
Performance Units
 
Time-Based Units
 
Total
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
Shares
 
Weighted
Average
Grant Date
Fair Value
 
Shares
 
Weighted
Average
Grant Date
Fair Value
Non-vested outstanding, February 3, 2018
973,000

 
$
1.55

 
1,856,000

 
$
1.32

 
2,829,000

 
$
1.40

Granted
747,000

 
$
1.15

 
1,198,000

 
$
1.17

 
1,945,000

 
$
1.16

Vested

 
$

 
(1,003,000
)
 
$
1.23

 
(1,003,000
)
 
$
1.23

Forfeited
(211,000
)
 
$
1.23

 
(75,000
)
 
$
1.46

 
(286,000
)
 
$
1.29

Non-vested outstanding, August 4, 2018
1,509,000

 
$
1.39

 
1,976,000

 
$
1.27

 
3,485,000

 
$
1.32