Disposition of Discontinued Operations

12 Months Ended

Jan. 31, 2014

Discontinued Operations And Disposal Groups [Abstract]

Disposition of Discontinued Operations

NOTE 19 – DISPOSITION OF DISCONTINUED OPERATIONS

VLI, the wholly owned subsidiary that represented the Company’s nutritional products business segment, completed the sale of substantially all of its assets to an unrelated party in March 2011 for cash proceeds that approximated $2,528,000 (the “Asset Sale”). VLI recognized a pretax gain of approximately $1,312,000 related to the Asset Sale which amount was reflected in income from discontinued operations for the year ended January 31, 2012.

The financial results of this business through April 30, 2012 have been presented as discontinued operations in the accompanying consolidated financial statements, including legal costs associated with this business. Such costs incurred subsequent to April 30, 2012 were reflected in the operating results of continuing operations; such costs were not material for the years ended January 31, 2014 and 2013. Net revenues of the discontinued operations for the year ended January 31, 2012 were $1,460,000. VLI was liquidated in December 2013.