A summary of our stock option activity under the 2002 stock option plan and 2006 equity incentive plan as of July 31, 2012 is as follows:

	Shares			Weighted Avg. Exercise Price		Weighted Avg. Remaining Contract Life in years		Aggregate Intrinsic Value
Outstanding at January 31, 2012		484,050		$	4.39		2.18	$	438,000
Granted		-			-
Exercised		(23,000	)		1.95
Canceled, forfeited or expired		(2,500	)		2.19
Outstanding at July 31, 2012		458,550		$	4.52		1.78	$	1,068,000
Exercisable at July 31, 2012		458,550		$	4.52		1.78	$	1,068,000