Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Common Share (Tables)

v3.20.2
Net Loss Per Common Share (Tables)
 9 Months Ended
Oct. 31, 2020
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]
A reconciliation of net loss per share calculations and the number of shares used in the calculation of basic loss per share and diluted loss per share is as follows:
 
 
Three-Month Periods Ended
 
Nine-Month Periods Ended
 
 
October 31,
2020
 
November 2,
2019
 
October 31,
2020
 
November 2,
2019
Numerator:
 
 
 
 
 
 
 
 
Net loss
 
$
(4,748,000
)
 
$
(6,741,000
)
 
$
(10,522,000
)
 
$
(37,908,000
)
Earnings allocated to participating share awards (a)
 
—

 
—

 
—

 
—

Net loss attributable to common shares — Basic and diluted
 
$
(4,748,000
)
 
$
(6,741,000
)
 
$
(10,522,000
)
 
$
(37,908,000
)
Denominator:
 
 
 
 
 
 
 
 
Weighted average number of common shares outstanding — Basic (b)
 
12,177,990

 
7,577,028

 
10,000,383

 
7,286,380

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

 
—

 
—

 
—

Weighted average number of common shares outstanding — Diluted
 
12,177,990

 
7,577,028

 
10,000,383

 
7,286,380

Net loss per common share
 
$
(0.39
)
 
$
(0.89
)
 
$
(1.05
)
 
$
(5.20
)
Net loss per common share — assuming dilution
 
$
(0.39
)
 
$
(0.89
)
 
$
(1.05
)
 
$
(5.20
)

(a) During fiscal 2018, the Company issued a restricted stock award that is a participating security. For the three and nine-month periods ended October 31, 2020 and November 2, 2019, the entire undistributed loss is allocated to common shareholders.
(b) For the three and nine-month periods ended October 31, 2020, the basic earnings per share computation included 55,000 and 28,000 outstanding fully-paid warrants to purchase shares of the Company's common stock at a price of $0.001 per share.
(c) For the three and nine-month periods ended October 31, 2020, there were 992,000 and 476,000 incremental in-the-money potentially dilutive common shares outstanding, and 75,000 and 40,000 for the three and nine-month periods ended November 2, 2019. 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.