Quarterly report pursuant to Section 13 or 15(d)

Warrants

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Warrants
6 Months Ended
Jul. 31, 2024
Warrants  
Warrants

Note 12. Warrants

 

A summary of warrant activity for six months ended July 31, 2024 is as follows:

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Average

 

 

 

 

 

 

Conversion

 

 

 

Shares

 

 

Price

 

 

 

 

 

 

 

 

Warrants outstanding at January 31, 2024

 

 

2,611,000

 

 

$ 1.09

 

Cancelled/Expired

 

 

(100,000 )

 

 

1.00

 

Warrants outstanding at July 31, 2024

 

 

2,511,000

 

 

$ 1.10

 

 

During the three months ended July 31, 2024, stock-based compensation expense related to warrant grants was $373,000, which consisted of grants to employees of $250,000, directors of $104,000, and consultants of $19,000. During the six months ended July 31, 2024, stock-based compensation expense related to warrant grants was $766,000, which consisted of grants to employees of $499,000, directors of $229,000, and consultants of $38,000.

 

During the three months ended July 31, 2023, stock-based compensation expense related to warrant grants was $575,000, which consisted of grants to employees of $338,000 and directors of $237,000. During the six months ended July 31, 2023, stock-based compensation expense related to warrant grants was $1,215,000, which consisted of grants to employees of $675,000, directors of $474,000, and consultants of $66,000.