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Note 13 - Equity and Stock-based Compensation
6 Months Ended
Jul. 31, 2022
Notes to Financial Statements  
Shareholders' Equity and Share-Based Payments [Text Block]

13. Equity and Stock-Based Compensation

 

As of July 31, 2022, there are approximately 1,683,000 shares of Preferred Stock outstanding with an aggregate liquidation preference of approximately $42.0 million. Holders of our Preferred Stock are entitled to receive, when and as declared by the Board out of funds of the Company available for the payment of distributions, quarterly cumulative preferential cash dividends of $0.5625 per share of the $25.00 per share stated liquidation preference on our Preferred Stock. Dividends on the Preferred Stock are payable quarterly in arrears, on April 30, July 31, October 31, and January 31, of each year. During the three months ended July 31, 2022, the Board did not declare, and the Company did not pay a quarterly dividend on our Preferred Stock. As a result, the Company has approximately $947,000 of undeclared preferred dividends in arrears. During the six months ended July 31, 2022, the Board declared a quarterly dividend of $0.5625 per share on our Preferred Stock for the quarter ended April 30, 2022. 

 

Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three- and six-month periods ended July 31, 2022 was approximately $ 152,000 and $ 388,000, respectively, and during the three- and six-month periods ended July 31, 2021, was approximately $ 115,000 and $ 224,000, respectively.