XML 36 R23.htm IDEA: XBRL DOCUMENT v3.8.0.1
Shareholders' Equity (Tables)
9 Months Ended
Oct. 28, 2017
Share-based Compensation [Abstract]  
Schedule of Share-based Payment Award, Restricted Stock and Restricted Stock Units, Valuation Assumptions [Table Text Block]
Grant date fair values were determined using a Monte Carlo valuation model based on assumptions as follows:
 
Fiscal 2017
 
Fiscal 2016
Total grant date fair value
$860,000
 
$224,000
Total grant date fair value per share
$1.53
 
$0.98
-
$1.72
Expected volatility
75%
 
71
%
-
73%
Weighted average expected life (in years)
3 years
 
3 years
Risk-free interest rate
1.5%
 
0.9
%
-
1.0%
Schedule of Share-based Payment Award, 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. 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 2017
 
Fiscal 2016
Expected volatility:
81%
 
82
%
-
84%
Expected term (in years):
6 years
 
5

-
6 years
Risk-free interest rate:
2.0
%
-
2.2%
 
1.4
%
-
1.7%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]
A summary of the status of the Company’s stock option activity as of October 28, 2017 and changes during the nine months then ended is as follows:
 
2011
Incentive
Stock
Option
Plan
 
Weighted
Average
Exercise
Price
 
2004
Incentive
Stock
Option
Plan
 
Weighted
Average
Exercise
Price
 
2001
Incentive
Stock
Option
Plan
 
Weighted
Average
Exercise
Price
Balance outstanding, January 28, 2017
2,543,000

 
$
2.19

 
301,000

 
$
5.41

 
77,000

 
$
10.73

Granted
1,627,000

 
$
1.31

 

 
$

 

 
$

Exercised
(52,000
)
 
$
0.99

 

 
$

 

 
$

Forfeited or canceled
(636,000
)
 
$
3.05

 
(14,000
)
 
$
4.88

 
(77,000
)
 
$
10.73

Balance outstanding, October 28, 2017
3,482,000

 
$
1.64

 
287,000

 
$
5.44

 

 
$

Options exercisable at October 28, 2017
879,000

 
$
2.26

 
287,000

 
$
5.44

 

 
$

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block]
The following table summarizes information regarding stock options outstanding at October 28, 2017:
 
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:
3,482,000

 
$
1.64

 
8.7
 
$
31,000

 
3,119,000

 
$
1.68

 
8.3
 
$
29,000

2004 Incentive:
287,000

 
$
5.44

 
2.5
 
$

 
287,000

 
$
5.44

 
2.5
 
$

2001 Incentive:

 
$

 
0.0
 
$

 

 
$

 
0.0
 
$

Restricted Stock Vesting Criteria [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 Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]
A summary of the status of the Company’s non-vested restricted stock activity as of October 28, 2017 and changes during the nine-month period then ended is as follows:
 
Shares
 
Weighted
Average
Grant Date
Fair Value
Non-vested outstanding, January 28, 2017
1,620,000

 
$2.00
Granted
2,008,000

 
$1.32
Vested
(339,000
)
 
$1.94
Forfeited
(367,000
)
 
$2.41
Non-vested outstanding, October 28, 2017
2,922,000

 
$1.49