Capital Stock

12 Months Ended

Jan. 31, 2013

Capital Stock [Abstract]

Capital Stock

 (7)           Capital Stock

As of January 31, 2013 and 2012, the Company had 20,000,000 authorized common shares with no par value. At January 31, 2013 and January 31, 2012, 11,475,000 shares and, 11,306,000 were issued and outstanding, respectively.

During fiscal year 2013, there were 118,000 stock options exercised and 51,000 shares of restricted stock became vested under the 2006 equity incentive plan. During fiscal year 2012, there were 86,000 stock options exercised, 4,000 shares retired and 48,000 shares of restricted stock became vested under the 2006 equity incentive plan. In addition, 933,000 shares were issued as part of the Mill Road securities purchase agreement in fiscal 2012.

Holders of common stock vote on matters submitted to shareholders, including the election of directors. Except as required by law, the powers, preferences and rights of all common stock and the qualifications, limitations or restrictions thereof, shall in all respects be identical. The common stock shareholders will be entitled to receive, to the extent permitted by law, and to share equally and ratably, share for share, any such dividends as may be declared from time to time by the Board of Directors.