Shareholders' Equity (Tables)

12 Months Ended

Jan. 31, 2015

The 2010 Equity Incentive Plan (the “2010 Plan”) provides for equity-based awards to the Company’s employees, directors and consultants. Under the 2010 Plan, the Company initially reserved 1,000,000 shares of common stock for issuance. This number automatically increases on the first trading day of each fiscal year beginning with fiscal 2011, by an amount equal to 1.5% of the shares of common stock outstanding as of the last trading day of the immediately preceding fiscal year; accordingly, 1,729,753 shares of common stock were reserved for issuance as of January 31, 2015. The Company previously had two stock option plans which expired on October 31, 2010. No further awards will be granted under these plans, although all options previously granted and outstanding will remain outstanding until they are either exercised or forfeited. As of January 31, 2015, 920,000 stock options have been granted pursuant to the 2010 Plan.

The following is a summary of the stock option activity during the fiscal year ended January 31, 2015:



	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
Outstanding as of February 1, 2014	1,208,275		$	8.32
Granted	135,000		5.68
Exercised	(107,592	)	3.68
Forfeited	(5,430	)	8.90
Outstanding as of January 31, 2015	1,230,253		$	8.43	6.1	$	212
Vested and expected to vest as of January 31, 2015	1,138,584		$	8.36	6.0	$	212
Exercisable as of January 31, 2015	1,138,584		$	8.36	6.0	$	212

Summary of Stock Warrant Activity

The following is a summary of stock warrants activity during the fiscal year ended January 31, 2015:



	Number of Warrants	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Aggregate Intrinsic Value (in thousands)
Outstanding as of February 1, 2014	6,299,971	$	11.80
Granted	—	—
Exercised	—	—
Forfeited	—	—
Outstanding as of January 31, 2015	6,299,971	$	11.80	3.4	$	—
Vested and expected to vest as of January 31, 2015	6,299,971	$	11.80	3.4	$	—
Exercisable as of January 31, 2015	6,299,971	$	11.80	3.4	$	—

Schedule of Stock Option Weighted Average Valuation Assumptions

The fair value for stock options issued during the fiscal years ended January 31, 2015 and February 1, 2014 was estimated at the date of grant, using the Black-Scholes option pricing model with the following weighted average assumptions:



	Fiscal Year Ended January 31, 2015	Fiscal Year Ended February 1, 2014
Expected life (years)	5	5
Expected stock price volatility	91.0% - 92.0%	99.0%
Risk-free interest rates	1.3% - 1.6%	1.5%
Expected dividend yield	0%	0%