0001437749-21-028312 | 10-Q | XBRL Viewer

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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Oct. 31, 2021	Dec. 09, 2021
Document Information [Line Items]
Entity Central Index Key	0000926423
Entity Registrant Name	MIND TECHNOLOGY, INC
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2021
Document Transition Report	false
Entity File Number	001-13490
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	76-0210849
Entity Address, Address Line One	2002 Timberloch Place Suite 400
Entity Address, City or Town	The Woodlands
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	281
Local Phone Number	353-4475
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,774,104
Series A Preferred Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Series A Preferred Stock - $1.00 par value per share
Trading Symbol	MINDP
Security Exchange Name	NASDAQ
Common Stock [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock - $0.01 par value per share
Trading Symbol	MIND
Security Exchange Name	NASDAQ

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Current assets:
Cash and cash equivalents	$ 622	$ 4,611
Accounts receivable, net of allowance for doubtful accounts of $481 and $948 at October 31, 2021 and January 31, 2021, respectively	9,478	4,747
Inventories, net	11,498	11,453
Prepaid expenses and other current assets	1,157	1,659
Assets held for sale	588	4,321
Total current assets	23,343	26,791
Property and equipment, net	4,346	4,751
Operating lease right-of-use assets	1,424	1,471
Intangible assets, net	6,190	6,750
Total assets	35,303	39,763
Current liabilities:
Accounts payable	3,190	1,704
Deferred revenue	314	208
Accrued expenses and other current liabilities	3,396	2,912
Income taxes payable	1,060	1,041
Operating lease liabilities - current	308	1,008
Liabilities held for sale	861	963
Total current liabilities	9,129	7,836
Operating lease liabilities - non-current	1,116	463
Notes payable	0	850
Deferred tax liability	198	198
Total liabilities	10,443	9,347
Stockholders’ equity:
Preferred stock, $1.00 par value; 2,000 shares authorized; 1,250 and 1,038 shares issued and outstanding at October 31, 2021 and January 31, 2021, respectively	28,248	23,104
Common stock, $0.01 par value; 40,000 shares authorized; 15,704 and 15,681 shares issued at October 31, 2021 and January 31, 2021, respectively	157	157
Additional paid-in capital	128,702	128,241
Treasury stock, at cost (1,931 and 1,929 shares at October 31, 2021 and January 31, 2021, respectively)	(16,862)	(16,860)
Accumulated deficit	(111,046)	(99,870)
Accumulated other comprehensive loss	(4,339)	(4,356)
Total stockholders’ equity	24,860	30,416
Total liabilities and stockholders’ equity	$ 35,303	$ 39,763

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Allowance for doubtful accounts	$ 481	$ 948
Preferred stock, par value (in dollars per share)	$ 1.00	$ 1.00
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	1,250,000	1,038,000
Preferred stock, shares outstanding (in shares)	1,250,000	1,038,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	15,704,000	15,681,000
Treasury stock, shares (in shares)	1,931,000	1,929,000

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Revenues:
Total revenues	$ 8,347,000	$ 6,541,000	$ 19,348,000	$ 14,814,000
Cost of sales:
Total cost of sales	5,177,000	4,267,000	13,411,000	10,039,000
Gross profit	3,170,000	2,274,000	5,937,000	4,775,000
Operating expenses:
Selling, general and administrative	3,903,000	2,973,000	11,098,000	8,915,000
Research and development	826,000	912,000	2,567,000	2,077,000
Impairment of intangible assets	0	0	0	2,531,000
Depreciation and amortization	494,000	662,000	1,717,000	2,092,000
Total operating expenses	5,223,000	4,547,000	15,382,000	15,615,000
Operating loss	(2,053,000)	(2,273,000)	(9,445,000)	(10,840,000)
Other income:
Other, net	33,000	12,000	1,037,000	68,000
Total other income	33,000	12,000	1,037,000	68,000
Loss from continuing operations before income taxes	(2,020,000)	(2,261,000)	(8,408,000)	(10,772,000)
(Provision) benefit for income taxes	(59,000)	(109,000)	(111,000)	79,000
Loss from continuing operations	(2,079,000)	(2,370,000)	(8,519,000)	(10,693,000)
Loss from discontinued operations, net of income taxes	(499,000)	(1,220,000)	(703,000)	(6,143,000)
Net loss	(2,578,000)	(3,590,000)	(9,222,000)	(16,836,000)
Preferred stock dividends	(688,000)	(559,000)	(1,954,000)	(1,677,000)
Net loss attributable to common stockholders	$ (3,266,000)	$ (4,149,000)	$ (11,176,000)	$ (18,513,000)
Net loss per common share - Basic
Continuing operations (in dollars per share)	$ (0.20)	$ (0.24)	$ (0.76)	$ (1.01)
Discontinued operations (in dollars per share)	(0.04)	(0.10)	(0.05)	(0.50)
Net loss (in dollars per share)	(0.24)	(0.34)	(0.81)	(1.51)
Net loss per common share - Diluted
Continuing operations (in dollars per share)	(0.20)	(0.24)	(0.76)	(1.01)
Discontinued operations (in dollars per share)	(0.04)	(0.10)	(0.05)	(0.50)
Net loss (in dollars per share)	$ (0.24)	$ (0.34)	$ (0.81)	$ (1.51)
Shares used in computing net loss per common share:
Basic (in shares)	13,774	12,313	13,769	12,223
Diluted (in shares)	13,774	12,313	13,769	12,223
Marine Technology Products [Member]
Revenues:
Total revenues	$ 8,347,000	$ 6,541,000	$ 19,348,000	$ 14,814,000
Cost of sales:
Total cost of sales	$ 5,177,000	$ 4,267,000	$ 13,411,000	$ 10,039,000

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Net loss attributable to common stockholders	$ (3,266)	$ (4,149)	$ (11,176)	$ (18,513)
Changes in cumulative translation adjustment	(17)	11	17	(38)
Comprehensive loss	$ (3,283)	$ (4,138)	$ (11,159)	$ (18,551)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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+ Details

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020
Cash flows from operating activities:
Net loss	$ (9,222)	$ (16,836)
Adjustments to reconcile net loss to net cash used in operating activities:
PPP loan forgiveness	(850)	0
Depreciation and amortization	1,721	3,920
Stock-based compensation	419	562
Impairment of intangible assets	0	2,531
Loss on disposal of discontinued operations	0	1,859
(Recovery) provision for doubtful accounts, net of charge offs	(453)	470
Provision for inventory obsolescence	388	256
Deferred tax expense	0	(32)
Changes in:
Accounts receivable	(4,444)	3,640
Unbilled revenue	(27)	(6)
Inventories	(183)	762
Prepaid expenses and other current and long-term assets	(293)	1,065
Income taxes receivable and payable	3	390
Accounts payable, accrued expenses and other current liabilities	1,696	(1,827)
Deferred revenue	172	72
Net cash used in operating activities	(11,228)	(4,803)
Cash flows from investing activities:
Purchases of seismic equipment held for lease	0	(110)
Purchases of property and equipment	(139)	(64)
Sale of used lease pool equipment	0	2,010
Sale of assets held for sale	3,187	734
Sale of a business	761	0
Net cash provided by investing activities	3,809	2,570
Cash flows from financing activities:
Purchase of treasury stock	(2)	0
Net proceeds from preferred stock offering	5,145	0
Net proceeds from common stock offering	43	1,291
Preferred stock dividends	(1,842)	(1,118)
Proceeds from PPP loans	0	1,607
Net cash provided by financing activities	3,344	1,780
Effect of changes in foreign exchange rates on cash, cash equivalents and restricted cash	86	(117)
Net decrease in cash, cash equivalents and restricted cash	(3,989)	(570)
Cash, cash equivalents and restricted cash, beginning of period	4,611	3,234
Cash, cash equivalents and restricted cash, end of period	622	2,664
Supplemental cash flow information:
Interest paid	26	34
Income taxes paid	149	219
Lease Pool Equipment [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Gross profit from sale of equipment	0	(1,326)
Other Machinery and Equipment [Member]
Adjustments to reconcile net loss to net cash used in operating activities:
Gross profit from sale of equipment	$ (155)	$ (303)

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Preferred Stock Offerings [Member] Common Stock [Member]	Preferred Stock Offerings [Member] Preferred Stock [Member]	Preferred Stock Offerings [Member] Additional Paid-in Capital [Member]	Preferred Stock Offerings [Member] Treasury Stock [Member]	Preferred Stock Offerings [Member] Retained Earnings [Member]	Preferred Stock Offerings [Member] AOCI Attributable to Parent [Member]	Preferred Stock Offerings [Member]	Common Stock Offerings [Member] Common Stock [Member]	Common Stock Offerings [Member] Preferred Stock [Member]	Common Stock Offerings [Member] Additional Paid-in Capital [Member]	Common Stock Offerings [Member] Treasury Stock [Member]	Common Stock Offerings [Member] Retained Earnings [Member]	Common Stock Offerings [Member] AOCI Attributable to Parent [Member]	Common Stock Offerings [Member]	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Jan. 31, 2020															14,097	994
Balances at Jan. 31, 2020															$ 141	$ 22,104	$ 123,964	$ (16,860)	$ (77,310)	$ (4,387)	$ 47,652
Net loss															0	0	0	0	(6,642)	0	(6,642)
Foreign currency translation															0	0	0	0	0	(131)	(131)
Preferred stock dividends															0	0	0	0	(559)	0	(559)
Stock-based compensation															$ 0	$ 0	230	0	0	0	230
Balances (in shares) at Apr. 30, 2020															14,097	994
Balances at Apr. 30, 2020															$ 141	$ 22,104	124,194	(16,860)	(84,511)	(4,518)	40,550
Balances (in shares) at Jan. 31, 2020															14,097	994
Balances at Jan. 31, 2020															$ 141	$ 22,104	123,964	(16,860)	(77,310)	(4,387)	47,652
Net loss																					(16,836)
Balances (in shares) at Oct. 31, 2020															14,773	994
Balances at Oct. 31, 2020															$ 148	$ 22,104	125,810	(16,860)	(95,823)	(4,425)	30,954
Balances (in shares) at Apr. 30, 2020															14,097	994
Balances at Apr. 30, 2020															$ 141	$ 22,104	124,194	(16,860)	(84,511)	(4,518)	40,550
Net loss															0	0	0	0	(6,604)	0	(6,604)
Foreign currency translation															0	0	0	0	0	82	82
Preferred stock dividends															0	0	0	0	(559)	0	(559)
Stock-based compensation															$ 0	$ 0	219	0	0	0	219
Balances (in shares) at Jul. 31, 2020															14,097	994
Balances at Jul. 31, 2020															$ 141	$ 22,104	124,413	(16,860)	(91,674)	(4,436)	33,688
Net loss															0	0	0	0	(3,590)	0	(3,590)
Foreign currency translation															0	0	0	0	0	11	11
Stock offering (in shares)								676	0
Stock offering								$ 7	$ 0	$ 1,284	$ 0	$ 0	$ 0	$ 1,291
Preferred stock dividends															0	0	0	0	(559)	0	(559)
Stock-based compensation															$ 0	$ 0	113	0	0	0	113
Balances (in shares) at Oct. 31, 2020															14,773	994
Balances at Oct. 31, 2020															$ 148	$ 22,104	125,810	(16,860)	(95,823)	(4,425)	30,954
Balances (in shares) at Jan. 31, 2021															15,681	1,038
Balances at Jan. 31, 2021															$ 157	$ 23,104	128,241	(16,860)	(99,870)	(4,356)	30,416
Net loss															0	0	0	0	(3,984)	0	(3,984)
Foreign currency translation															$ 0	$ 0	0	0	0	57	57
Restricted stock issued (in shares)															5	0
Restricted stock issued															$ 0	$ 0	11	0	0	0	11
Restricted stock forfeited for taxes															0	0	0	(2)	0	0	(2)
Stock offering (in shares)	0	21						18	0
Stock offering	$ 0	$ 503	$ 0	$ 0	$ 0	$ 0	$ 503	$ 0	$ 0	42	0	0	0	42
Preferred stock dividends															0	0	0	0	(584)	0	(584)
Stock-based compensation															$ 0	$ 0	109	0	0	0	109
Balances (in shares) at Apr. 30, 2021															15,704	1,059
Balances at Apr. 30, 2021															$ 157	$ 23,607	128,403	(16,862)	(104,438)	(4,299)	26,568
Balances (in shares) at Jan. 31, 2021															15,681	1,038
Balances at Jan. 31, 2021															$ 157	$ 23,104	128,241	(16,860)	(99,870)	(4,356)	30,416
Net loss																					(9,222)
Balances (in shares) at Oct. 31, 2021															15,704	1,250
Balances at Oct. 31, 2021															$ 157	$ 28,248	128,702	(16,862)	(111,046)	(4,339)	24,860
Balances (in shares) at Apr. 30, 2021															15,704	1,059
Balances at Apr. 30, 2021															$ 157	$ 23,607	128,403	(16,862)	(104,438)	(4,299)	26,568
Net loss															0	0	0	0	(2,660)	0	(2,660)
Foreign currency translation															0	0	0	0	0	(23)	(23)
Stock offering (in shares)	0	164
Stock offering	$ 0	$ 3,999	0	0	0	0	3,999	0	0	1	0	0	0	1
Preferred stock dividends															0	0	0	0	(682)	0	(682)
Stock-based compensation															$ 0	$ 0	115	0	0	0	115
Balances (in shares) at Jul. 31, 2021															15,704	1,223
Balances at Jul. 31, 2021															$ 157	$ 27,606	128,519	(16,862)	(107,780)	(4,322)	27,318
Net loss															0	0	0	0	(2,578)	0	(2,578)
Foreign currency translation															0	0	0	0	0	(17)	(17)
Stock offering	$ 0	$ 642	$ 0	$ 0	$ 0	$ 0	$ 642	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Preferred stock dividends															0	0	0	0	(688)	0	(688)
Stock-based compensation															$ 0	$ 0	183	0	0	0	183
Balances (in shares) at Oct. 31, 2021															15,704	1,250
Balances at Oct. 31, 2021															$ 157	$ 28,248	$ 128,702	$ (16,862)	$ (111,046)	$ (4,339)	$ 24,860

Note 1 - Organization

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Nature of Operations [Text Block]

1. Organization

MIND Technology, Inc., a Delaware corporation (the “Company”), formerly Mitcham Industries, Inc., a Texas corporation, was incorporated in 1987. Effective August 3, 2020 the Company effectuated a reincorporation to the state of Delaware. Concurrent with the reincorporation the name of the Company was changed to MIND Technology, Inc. and the number of shares of common stock and preferred stock authorized for issuance was increased. See Note 16 - “Corporate Restructuring”, to the condensed consolidated financial statements.

The Company, through its wholly owned subsidiaries, Seamap Pte Ltd, MIND Maritime Acoustics, LLC (formerly Seamap USA, LLC), Seamap (Malaysia) Sdn Bhd and Seamap (UK) Ltd (collectively “Seamap”), and its wholly owned subsidiary, Klein Marine Systems, Inc. (“Klein”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries with product sales and support facilities based in Singapore, Malaysia, the United Kingdom and the states of New Hampshire and Texas. Prior to July 31, 2020, the Company, through its wholly owned Canadian subsidiary, Mitcham Canada, ULC (“MCL”), its wholly owned Hungarian subsidiary, Mitcham Europe Ltd. (“MEL”), and its branch operations in Colombia, provided full-service equipment leasing, sales and service to the seismic industry worldwide (the “Leasing Business”). Effective July 31, 2020, the Leasing Business has been classified as held for sale and the financial results reported as discontinued operations (see Note 3 – “Assets Held for Sale and Discontinued Operations” for additional details). All intercompany transactions and balances have been eliminated in consolidation.

The lingering impacts of the global pandemic and emerging supply chain disruptions have created uncertainty in the global economy which could have a material adverse effect on the Company’s business, financial position, results of operations and liquidity. In addition, the Company has a history of generating operating losses and negative cash from operating activities. However, as of October 31, 2021, the Company has no funded debt or obligations containing financial covenants, working capital of approximately $14.2 million, including cash of approximately $622,000, backlog of firm orders of approximately $10.0 million, the ability, and plans, to reduce costs to maintain positive cash flow, additional equity available to raise further capital, and lease pool equipment being actively marketed for sale. In addition, on November 12, 2021, the Company issued 432,000 shares of 9.00% Series A Cumulative Preferred Stock, par value $1.00 per share (the “Preferred Stock”) pursuant to an underwritten public offering. The Company has received net proceeds of approximately $9.5 million after underwriting discounts and other costs (see Note 17 – “Subsequent Event” for additional details). Based on these factors, management expects the Company to continue to meet its obligations as they arise over the next twelve months.

Note 2 - Basis of Presentation

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Basis of Accounting [Text Block]

2. Basis of Presentation

The condensed consolidated balance sheet as of January 31, 2021 for the Company has been derived from audited consolidated financial statements. The unaudited interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2021 (“fiscal 2021”). In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of October 31, 2021, the results of operations for the three and nine months ended October 31, 2021 and 2020, the cash flows for the nine months ended October 31, 2021 and 2020, and the statement of stockholders’ equity for the three and nine months ended October 31, 2021 and 2020, have been included in these condensed consolidated financial statements. The foregoing interim results are not necessarily indicative of the results of operations to be expected for the full fiscal year ending January 31, 2022 (“fiscal 2022”).

We have reclassified certain amounts in prior-period financial statements to conform to the current period’s presentation. On the consolidated balance sheets, income taxes payable, not related to discontinued operations has been reclassified from “Current liabilities held for sale” to “Current income taxes payable.”

Note 3 - Assets Held for Sale and Discontinued Operations

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

3. Assets Held for Sale and Discontinued Operations

On July 27, 2020, the Board determined to exit the Leasing Business, which comprised essentially all operations of the Equipment Leasing segment. As a result, the assets, excluding cash, and liabilities of the Leasing Business are considered held for sale and the operations of the business are reported as discontinued operations as of October 31, 2021 and for all comparative periods presented in these condensed consolidated financial statements. The Company originally anticipated selling the discontinued operations in multiple transactions, potentially involving the sale of legal entities, assets, or a combination of both, within the twelve months ending July 31, 2021. The Company now believes it will complete the process by January 31, 2022.

The assets reported as held for sale consist of the following:

	*October 31, 2021*			*January 31, 2021*
Current assets of discontinued operations:
Accounts receivable, net		1,091			1,668
Inventories, net		102			352
Prepaid expenses and other current assets		134			150
Seismic equipment lease pool and property and equipment, net		2,602			4,478
Loss recognized on classification as held for sale		(3,341	)		(2,327	)
Total assets of discontinued operations	$	588		$	4,321

The liabilities reported as held for sale consist of the following:

	*October 31, 2021*		*January 31, 2021*
Current liabilities of discontinued operations:
Accounts payable	$	95	$	59
Deferred revenue		73		73
Accrued expenses and other current liabilities		693		831
Total liabilities of discontinued operations		861		963

The results of operations from discontinued operations for the three and nine months ended October 31, 2021 and 2020 consist of the following:

	*For the Three Months Ended October 31,*						*For the Nine Months Ended October 31,*
	*2021*			*2020*			*2021*			*2020*
Revenues:
Revenue from discontinued operations	$	53		$	313		$	840		$	5,731
Cost of sales:
Cost of discontinued operations		86			263			791			4,389
Operating expenses:
Selling, general and administrative		502			1,146			1,222			4,322
(Recovery) provision for doubtful accounts		(5	)		—			(450	)		470
Depreciation and amortization		1			43			4			128
Total operating expenses		498			1,189			776			4,920
Operating loss		(531	)		(1,139	)		(727	)		(3,578	)
Other income (expenses)		41			(75	)		37			—
Loss on disposal (including $2,745 of cumulative translation loss)		—			—			—			(1,859	)
Loss before income taxes		(490	)		(1,214	)		(690	)		(5,437	)
Provision for income taxes		(9	)		(6	)		(13	)		(706	)
Net income loss		(499	)		(1,220	)		(703	)		(6,143	)

The significant operating and investing noncash items and capital expenditures related to discontinued operations are summarized below:

	*For the Nine Months Ended October 31,*
	*2021*			*2020*
Depreciation and amortization	$	—		$	1,771
Gross profit from sale of lease pool equipment	$	—		$	(1,326	)
(Recovery) provisions for doubtful accounts	$	(450	)	$	470
Loss on disposal of discontinued operations	$	—		$	1,859
Sale of used lease pool equipment	$	—		$	2,010
Sale of assets held for sale	$	3,948		$	734
Purchase of seismic equipment held for lease	$	—		$	(110	)

Note 4 - New Accounting Pronouncements

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Accounting Standards Update and Change in Accounting Principle [Text Block]

4. New Accounting Pronouncements

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12, Income Taxes (“Topic 740”): Simplifying the Accounting for Income Taxes, which simplifies the accounting for income taxes by eliminating certain exceptions to the general principles in Topic 740 and by clarifying and amending existing guidance to improve consistent application. This ASU is effective for the annual period beginning after December 15, 2020, including interim periods within that annual period. The Company adopted this ASU effective February 1, 2021, and the adoption did not have a material impact on the Company’s condensed consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements on fair value measurement by removing, modifying and adding certain disclosures. This ASU is effective for the annual period beginning after December 15, 2019, including interim periods within that annual period. The Company adopted this guidance effective February 1, 2020. The adoption of this guidance did not have a material impact on the Company’s condensed consolidated financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

Note 5 - Revenue From Contracts With Customers

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

5. Revenue from Contracts with Customers

The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition:

	*Three Months Ended October 31,*				*Nine Months Ended October 31,*
	*2021*		*2020*		*2021*		*2020*
Revenue recognized at a point in time:	(in thousands)
Seamap	$	6,876	$	5,196	$	15,045	$	11,066
Klein		1,328		1,150		3,884		3,152
Total revenue recognized at a point in time	$	8,204	$	6,346	$	18,929	$	14,218
Revenue recognized over time:
Seamap	$	143	$	195	$	419	$	596
Total revenue recognized over time		143		195		419		596
Total revenue from contracts with customers	$	8,347	$	6,541	$	19,348	$	14,814

The revenue from products manufactured and sold by our Seamap and Klein businesses is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. Our Seamap business also provides Software Maintenance Agreements (“SMA”) to customers who have an active license for software embedded in Seamap products. The revenue from SMA’s is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract, which is typically twelve months.

The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers:

	*Three Months Ended October 31,*				*Nine Months Ended October 31,*
	*2021*		*2020*		*2021*		*2020*
	(in thousands)
United States	$	967	$	282	$	1,545	$	2,068
Europe		3,491		2,001		9,593		4,981
Middle East & Africa		120		757		809		1,054
Asia-Pacific		3,667		3,342		6,560		5,841
Canada & Latin America		102		159		841		870
Total revenue from contracts with customers	$	8,347	$	6,541	$	19,348	$	14,814

As of October 31, 2021, and January 31, 2021, contract assets and liabilities consisted of the following:

	*October 31, 2021*		*January 31, 2021*
Contract Assets:	(in thousands)
Unbilled revenue - current	$	57	$	85
Total unbilled revenue	$	57	$	85
Contract Liabilities:
Deferred revenue & customer deposits - current	$	863	$	691
Total deferred revenue & customer deposits	$	863	$	691

Considering the products manufactured and sold by our Seamap and Klein businesses and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a period of three to nine months.

Pursuant to our accounting policies and procedures related to revenue from contracts with customers, sales and transaction-based taxes are excluded from revenue. Also, we do not disclose the value of unsatisfied performance obligations for contracts with an original expected duration of one year or less. Additionally, we expense costs incurred to obtain contracts when incurred because the amortization period would have been one year or less. These costs are recorded in selling, general and administrative expenses.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

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+ Details

Note 6 - Balance Sheet - Continuing Operations

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

6. Balance Sheet - Continuing Operations

	*As of October 31, 2021*			*As of January 31, 2021*
	(in thousands)
Accounts receivable	$	9,959		$	5,695
Less allowance for doubtful accounts		(481	)		(948	)
Accounts receivable net of allowance for doubtful accounts	$	9,478		$	4,747

	*October 31, 2021*			*January 31, 2021*
	(in thousands)
Inventories:
Raw materials	$	6,796		$	6,905
Finished goods		3,561			3,466
Work in progress		2,478			2,445
		12,835			12,816
Less allowance for obsolescence		(1,337	)		(1,363	)
Total inventories, net	$	11,498		$	11,453

	*October 31, 2021*			*January 31, 2021*
	(in thousands)
Property and equipment:
Marine seismic service equipment	$	3,912		$	5,969
Land and buildings		4,479			4,354
Furniture and fixtures		9,962			9,750
Autos and trucks		495			491
		18,848			20,564
Accumulated depreciation and amortization		(14,502	)		(15,813	)
Total property and equipment, net	$	4,346		$	4,751

As of January 31, 2021, the Company completed an annual review of long-lived assets noting that the undiscounted future cash flows exceeded their carrying value and no impairment was recorded. Since January 31, 2021, there have been no significant changes to the market, economic or legal environment in which the Company operates that would indicate additional impairment analysis is necessary as of October 31, 2021.

Note 7 - Leases

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

7. Leases

The Company has certain non-cancelable operating lease agreements for office, production and warehouse space in Texas, Hungary, Singapore, Malaysia, Colombia, United Kingdom and Canada. We negotiated the termination of our Colombia lease obligation during the current fiscal year.

Lease expense for the three and nine months ended October 31, 2021 was approximately $374,000 and $974,000, respectively, and was recorded as a component of operating loss. Included in these costs was short-term lease expense of approximately $14,000 and $42,000, respectively, for the three and nine months ended October 31, 2021.

Supplemental balance sheet information related to leases as of October 31, 2021 and January 31, 2021 were as follows (in thousands):

Lease	*October 31, 2021*		*January 31, 2021*
Assets
Operating lease assets	$	1,424	$	1,471

Liabilities
Operating lease liabilities	$	1,424	$	1,471

Classification of lease liabilities
Current liabilities	$	308	$	1,008
Non-current liabilities		1,116		463
Total Operating lease liabilities	$	1,424	$	1,471

Lease-term and discount rate details as of October 31, 2021 and January 31, 2021 were as follows:

Lease term and discount rate	*October 31, 2021*			*January 31, 2021*
Weighted average remaining lease term (years)
Operating leases		1.35			1.09

Weighted average discount rate:
Operating leases		9.17	%		10	%

The incremental borrowing rate was calculated using the Company's weighted average cost of capital.

Supplemental cash flow information related to leases was as follows (in thousands):

Lease	*Nine Months Ended October 31, 2021*			*Nine Months Ended October 31, 2020*
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(974	)	$	(828	)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	974		$	828

Maturities of lease liabilities at October 31, 2021 were as follows (in thousands):

	*October 31, 2021*
2022	$	308
2023		750
2024		346
2025		134
2026		24
Thereafter		—
Total payments under lease agreements	$	1,562

Less: imputed interest		(138	)
Total lease liabilities	$	1,424

Note 8 - Contingent Liability

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Contingencies Disclosure [Text Block]

8. Contingent Liability

Legal Proceedings

From time to time, the Company may be subject to pending or threatened legal actions and proceedings, including those that arise in the ordinary course of its business, which may include employment matters, breach of contract disputes and stockholder litigation. Such actions and proceedings are subject to many uncertainties and to outcomes that are not predictable with assurance and that may not be known for extended periods of time. The Company records a liability in its consolidated financial statements for costs related to claims, including future legal costs, settlements and judgments, when the Company has assessed that a loss is probable and an amount can be reasonably estimated. If the reasonable estimate of a probable loss is a range, the Company records the most probable estimate of the loss or the minimum amount when no amount within the range is a better estimate than any other amount. The Company discloses a contingent liability even if the liability is not probable or the amount is not estimable, or both, if there is a reasonable possibility that a material loss may have been incurred. In the opinion of management, as of the date hereof, the amount of liability, if any, with respect to these matters, individually or in the aggregate, will not materially affect the Company’s consolidated results of operations, financial position or cash flows.

Inova Geophysical, Inc. (“Inova”) has claimed they are entitled to up to approximately $1.0 million of the proceeds from the sale of certain equipment by our subsidiary, Mitcham Europe, Ltd. (“MEL”), pursuant to a Cooperation and Representation Agreement (the “Agreement”) between Inova and MEL. Further, they have claimed a purchase money security interest in the subject equipment. We believe these claims are totally without merit.

On October 2021, we filed suit against Inova seeking a declaratory judgment, that per the terms of the Agreement Inova has no right to any proceeds from the sale of the subject equipment and that Inova has no interest in such equipment or proceeds from any sale. We further seek payment from Inova for commissions due to MEL pursuant to the Agreement as well as reimbursement of legal costs. This action is currently pending in the District Court of Fort Bend County, Texas.

Note 9 - Goodwill and Other Intangible Assets

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

9. Goodwill and Other Intangible Assets

		*October 31, 2021*										*January 31, 2021*
	*Weighted*	*Gross*								*Net*		*Gross*								*Net*
	*Average Life at*	*Carrying*		*Accumulated*			*Accumulated*			*Carrying*		*Carrying*		*Accumulated*						*Carrying*
	*10/31/2021*	*Amount*		*Amortization*			*Impairment*			*Amount*		*Amount*		*Amortization*			*Impairment*			*Amount*
Goodwill		$	7,060	$	—		$	(7,060	)	$	—	$	7,060	$	—		$	(7,060	)	$	—
Proprietary rights	6.2		8,221		(4,028	)		—			4,193		7,781		(3,688	)		—			4,093
Customer relationships	0.4		5,024		(4,772	)		—			252		5,024		(4,513	)		—			511
Patents	2.9		2,440		(1,715	)		—			725		2,440		(1,528	)		—			912
Trade name	4.6		894		(83	)		(760	)		51		894		(74	)		(760	)		60
Developed technology	4.2		1,430		(834	)		—			596		1,430		(727	)		—			703
Other	2.6		684		(311	)		—			373		684		(213	)		—			471
Amortizable intangible assets		$	18,693	$	(11,743	)	$	(760	)	$	6,190	$	18,253	$	(10,743	)	$	(760	)	$	6,750

As of January 31, 2021, the Company has recorded impairment expense equal to 100% of the gross carrying amount of goodwill. As a result, no further review of goodwill is required. On January 31, 2021, the Company completed an annual review of amortizable intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair market value of intangible assets was greater than its carrying value. During the nine months ended October 31, 2021, there have been no substantive indicators of impairment.

Aggregate amortization expense was $1,004,000 and $1,300,000 for the nine months ended October 31, 2021 and 2020, respectively. As of October 31, 2021, future estimated amortization expense related to amortizable intangible assets was estimated to be (in thousands):

For fiscal years ending January 31
2022	$	294
2023		1,167
2024		1,032
2025		837
2026		700
Thereafter		2,160
Total	$	6,190

Note 10 - Notes Payable

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Long-term Debt [Text Block]

10. Notes Payable

On May 5, 2020, the Company, and its wholly owned subsidiary, Klein (collectively, the “Borrowers”), were granted loans (the “Loans”) from Bank of America, N.A. in the aggregate amount of approximately $1.6 million, pursuant to the Small Business Association's Paycheck Protection Program (the “PPP”), a component of the Coronavirus Aid, Relief, and Economic Security Act which was enacted on March 27, 2020.

The Loans, in the form of promissory notes (the “Notes”) dated May 1, 2020 issued by the Borrowers, were set to mature on May 1, 2022 and bore interest at a rate of 1% per annum, payable monthly commencing on November 1, 2020. The Notes stipulated various restrictions customary with this type of transaction including representations, warranties, and covenants, in addition to events of default, breaches of representation and warranties or other provisions of the Notes. In the event of default, the Borrowers would have become obligated to repay all amounts outstanding under the Notes. The Borrowers were permitted to prepay the Notes at any time prior to maturity with no prepayment penalties.

Under the terms of the PPP, funds from the Loans could only be used for payroll costs, rent, utilities and interest on other debt obligations incurred prior to February 15, 2020. In addition, certain amounts of the Loans could be forgiven if the funds were used to pay qualifying expenses.

In January 2021, the Loan granted to the Company in the amount of approximately $757,000 was forgiven resulting in other income of that amount. In February 2021, the Loan granted to Klein in the amount of approximately $850,000 was also forgiven, resulting in other income of that amount. As of October 31, 2021, the Company had no outstanding balance under the Loans.

Note 11 - Income Taxes

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Income Tax Disclosure [Text Block]

11. Income Taxes

For the nine months ended October 31, 2021, the income tax expense from continuing operations was approximately $ 111,000 on a pre-tax net loss from continuing operations of $8.4 million. For the nine months ended October 31, 2020, the benefit for income taxes from continuing operations was approximately $ 79,000 on a pre-tax net loss from continuing operations of $10.8 million. The variance between our actual provision and the expected provision based on the U.S. statutory rate is due primarily to recording valuation allowances against the increase in our deferred tax assets in the respective periods, permanent differences between book income and taxable income, and the effect of foreign withholding taxes.

The Company files U.S. federal and state income tax returns as well as separate returns for its foreign subsidiaries within their local jurisdictions. The Company's U.S. federal tax returns are subject to examination by the Internal Revenue Service for fiscal years ended January 31, 2018 through 2021. The Company’s tax returns may also be subject to examination by state and local tax authorities for fiscal years ended January 31, 2016 through 2021. In addition, the Company's tax returns filed in foreign jurisdictions are generally subject to examination for the fiscal years ended January 31, 2016 through 2021.

The Company has determined that the undistributed earnings of foreign subsidiaries are not deemed to be indefinitely reinvested outside of the United States as of October 31, 2021. Furthermore, the Company has concluded that any deferred taxes with respect to the undistributed foreign earnings would be immaterial. Therefore, the Company has not recorded a deferred tax liability associated with the undistributed foreign earnings as of October 31, 2021.

For the nine months ended October 31, 2021 and 2020, the Company did not recognize any tax expense or benefit related to uncertain tax positions.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

Note 12 - Earnings Per Share

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Earnings Per Share [Text Block]

12. Earnings per Share

Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock.

The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation:

	*Three Months Ended October 31,*				*Nine Months Ended October 31,*
	*2021*		*2020*		*2021*		*2020*
	(in thousands)				(in thousands)
Basic weighted average common shares outstanding		13,774		12,313		13,769		12,223
Stock options		66		70		80		24
Unvested restricted stock		30		17		28		10
Total weighted average common share equivalents		96		87		108		34
Diluted weighted average common shares outstanding		13,870		12,400		13,877		12,257

For the three and nine months ended October 31, 2021 and 2020, potentially dilutive common shares underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for those periods.

Note 13 - Related Party Transaction

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

13. Related Party Transaction

On October 7, 2016, the Company entered into an equity distribution agreement with Ladenburg Thalmann & Co. Inc. (the “Agent”). On December 18, 2019, the Company and Agent entered into an Amended and Restated equity distribution agreement (the “1st Equity Distribution Agreement”). Pursuant to the 1st Equity Distribution Agreement, the Company may sell up to 500,000 shares of 9.00% Series A Cumulative Preferred Stock, par value $1.00 per share (the “Preferred Stock”), through an at-the-market offering program (the “1st ATM Offering Program”) administered by the Agent. The Co-Chief Executive Officer and Co-President of the Agent is the Non-Executive Chairman of our Board. Under the 1st Equity Distribution Agreement, the Agent was entitled to compensation of up to 2.0% of the gross proceeds from the sale of Preferred Stock under the 1st ATM Offering Program. As of January 31, 2020, we had issued 994,046 shares of Series A Preferred for which the Agent was entitled to compensation, including 100% of the Preferred Stock available for sale through the 1st Equity Distribution Agreement.

In September 2020 we entered into a new equity distribution agreement (the “2^nd Equity Distribution Agreement”) with the Agent with economic terms essentially identical to the initial agreement. Pursuant to the 2^nd Equity Distribution Agreement, the Company may sell up to 500,000 shares of Preferred Stock and 5,000,000 shares of $0.01 par value common stock (“Common Stock”) through a new at-the-market offering program (the “2^nd ATM Offering Program”).

During the three- and nine-month periods ended October 31, 2021, the Company sold 26,506 and 211,246 shares of Preferred Stock under the 2^ndATM Offering Program, respectively. Net proceeds from these sales for the three and nine months ended October 31, 2021, were approximately $ 642,000 and $5.1 million, respectively, and the Agent received compensation of approximately $ 13,000 and $ 105,000, respectively. The Non-Executive Chairman of the Board received no portion of this compensation.

During the nine-month period ended October 31, 2021, the Company sold 18,415 shares of Common Stock under the 2^ndATM Offering Program. Net proceeds from these sales for the nine months ended October 31, 2021, were approximately $ 43,000. Compensation to the Agent during this period was approximately $ 1,000, none of which was received by the Non-Executive Chairman of the Board.

Note 14 - Equity and Stock-based Compensation

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Shareholders' Equity and Share-based Payments [Text Block]

14. Equity and Stock-Based Compensation

During the three months ended October 31, 2021, the Board declared quarterly dividends of $0.5625 per share for our Preferred Stock. As of October 31, 2021, there are approximately 1,250,000 shares of Preferred Stock outstanding with an aggregate liquidation preference of approximately $31.2 million. Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three and nine months ended October 31, 2021 was approximately $ 183,000 and $ 419,000, respectively, and during the three and nine months ended October 31, 2020 was approximately $ 219,000 and $ 449,000, respectively.

Note 15 - Segment Reporting

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Segment Reporting Disclosure [Text Block]

15. Segment Reporting

With the designation of the Equipment Leasing segment as discontinued operations as of July 31, 2020, the Company operates in one segment, Marine Technology Products. As a result, no segment reporting is required. The Marine Technology Products business is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the United Kingdom, Singapore, Malaysia and the states of New Hampshire and Texas.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Note 16 - Corporate Restructuring

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Restructuring and Related Activities Disclosure [Text Block]

16. Corporate Restructuring

On August 3, 2020, the Company, formerly Mitcham Industries, Inc., completed the reincorporation from the State of Texas to the State of Delaware, including a name change to MIND Technology, Inc. The change in legal domicile and company name were approved by the affirmative vote of the holders of more than two-thirds of the votes of the Company’s Common Stock and Preferred Stock, voting separately, at the Annual Meeting of Stockholders held on July 27, 2020. As part of the reincorporation merger, the stockholders approved an increase in the number of authorized shares of capital stock from 21,000,000 shares to 42,000,000 shares, consisting of (i) 40,000,000 shares of Common Stock (up from 20,000,000 shares), and (ii) 2,000,000 shares of Preferred Stock (up from 1,000,000 shares).

Pursuant to the terms of the reincorporation merger, each outstanding share of Common Stock and each share of Preferred Stock of Mitcham Industries, Inc., the Texas corporation, automatically converted into one share of Common Stock and one share of Series A Preferred Stock, respectively, of MIND Technology, Inc., the Delaware corporation. Stockholders who hold physical stock certificates are not required to, but may, exchange stock certificates as a result of the reincorporation. The Company’s Common Stock and Preferred Stock continued to trade on the NASDAQ Global Select Market under their ticker symbols, “MIND” and “MINDP”, respectively. The Company’s Common Stock was assigned a new CUSIP number of 602566 101 and the Company’s Preferred Stock was assigned a new CUSIP number of 602566 200.

No changes were made to the Board, management, business or operations of the Company as a result of the reincorporation. The Company’s corporate headquarters remains in Texas.

Note 17 - Subsequent Event

9 Months Ended

Oct. 31, 2021

Notes to Financial Statements

Subsequent Events [Text Block]

17. Subsequent Event

On November 12, 2021, the Company issued 432,000 shares of Preferred Stock pursuant to an underwritten public offering. The Company has received net proceeds of approximately $9.5 million after underwriting discounts and other costs. Holders of our Preferred Stock are entitled to 9.00% per annum of the $25.00 per share liquidation preference (equivalent to $2.25 per annum per share), accruing from the date of initial issuance. Dividends will be payable to holders of our Preferred Stock quarterly on or about the last day of January, April, July and October of each year. The record date for dividend payment will be the 15th day of January, April, July and October of each year.

Note 3 - Assets Held for Sale and Discontinued Operations (Tables)

9 Months Ended

Oct. 31, 2021

Notes Tables

Disposal Groups, Including Discontinued Operations [Table Text Block]

	*October 31, 2021*			*January 31, 2021*
Current assets of discontinued operations:
Accounts receivable, net		1,091			1,668
Inventories, net		102			352
Prepaid expenses and other current assets		134			150
Seismic equipment lease pool and property and equipment, net		2,602			4,478
Loss recognized on classification as held for sale		(3,341	)		(2,327	)
Total assets of discontinued operations	$	588		$	4,321

	*October 31, 2021*		*January 31, 2021*
Current liabilities of discontinued operations:
Accounts payable	$	95	$	59
Deferred revenue		73		73
Accrued expenses and other current liabilities		693		831
Total liabilities of discontinued operations		861		963

	*For the Three Months Ended October 31,*						*For the Nine Months Ended October 31,*
	*2021*			*2020*			*2021*			*2020*
Revenues:
Revenue from discontinued operations	$	53		$	313		$	840		$	5,731
Cost of sales:
Cost of discontinued operations		86			263			791			4,389
Operating expenses:
Selling, general and administrative		502			1,146			1,222			4,322
(Recovery) provision for doubtful accounts		(5	)		—			(450	)		470
Depreciation and amortization		1			43			4			128
Total operating expenses		498			1,189			776			4,920
Operating loss		(531	)		(1,139	)		(727	)		(3,578	)
Other income (expenses)		41			(75	)		37			—
Loss on disposal (including $2,745 of cumulative translation loss)		—			—			—			(1,859	)
Loss before income taxes		(490	)		(1,214	)		(690	)		(5,437	)
Provision for income taxes		(9	)		(6	)		(13	)		(706	)
Net income loss		(499	)		(1,220	)		(703	)		(6,143	)

	*For the Nine Months Ended October 31,*
	*2021*			*2020*
Depreciation and amortization	$	—		$	1,771
Gross profit from sale of lease pool equipment	$	—		$	(1,326	)
(Recovery) provisions for doubtful accounts	$	(450	)	$	470
Loss on disposal of discontinued operations	$	—		$	1,859
Sale of used lease pool equipment	$	—		$	2,010
Sale of assets held for sale	$	3,948		$	734
Purchase of seismic equipment held for lease	$	—		$	(110	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Note 5 - Revenue From Contracts With Customers (Tables)

9 Months Ended

Oct. 31, 2021

Notes Tables

Disaggregation of Revenue [Table Text Block]

	*Three Months Ended October 31,*				*Nine Months Ended October 31,*
	*2021*		*2020*		*2021*		*2020*
Revenue recognized at a point in time:	(in thousands)
Seamap	$	6,876	$	5,196	$	15,045	$	11,066
Klein		1,328		1,150		3,884		3,152
Total revenue recognized at a point in time	$	8,204	$	6,346	$	18,929	$	14,218
Revenue recognized over time:
Seamap	$	143	$	195	$	419	$	596
Total revenue recognized over time		143		195		419		596
Total revenue from contracts with customers	$	8,347	$	6,541	$	19,348	$	14,814

	*Three Months Ended October 31,*				*Nine Months Ended October 31,*
	*2021*		*2020*		*2021*		*2020*
	(in thousands)
United States	$	967	$	282	$	1,545	$	2,068
Europe		3,491		2,001		9,593		4,981
Middle East & Africa		120		757		809		1,054
Asia-Pacific		3,667		3,342		6,560		5,841
Canada & Latin America		102		159		841		870
Total revenue from contracts with customers	$	8,347	$	6,541	$	19,348	$	14,814

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	*October 31, 2021*		*January 31, 2021*
Contract Assets:	(in thousands)
Unbilled revenue - current	$	57	$	85
Total unbilled revenue	$	57	$	85
Contract Liabilities:
Deferred revenue & customer deposits - current	$	863	$	691
Total deferred revenue & customer deposits	$	863	$	691

Note 6 - Balance Sheet - Continuing Operations (Tables)

9 Months Ended

Oct. 31, 2021

Notes Tables

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

	*As of October 31, 2021*			*As of January 31, 2021*
	(in thousands)
Accounts receivable	$	9,959		$	5,695
Less allowance for doubtful accounts		(481	)		(948	)
Accounts receivable net of allowance for doubtful accounts	$	9,478		$	4,747

Schedule of Inventory, Current [Table Text Block]

	*October 31, 2021*			*January 31, 2021*
	(in thousands)
Inventories:
Raw materials	$	6,796		$	6,905
Finished goods		3,561			3,466
Work in progress		2,478			2,445
		12,835			12,816
Less allowance for obsolescence		(1,337	)		(1,363	)
Total inventories, net	$	11,498		$	11,453

Property, Plant and Equipment [Table Text Block]

	*October 31, 2021*			*January 31, 2021*
	(in thousands)
Property and equipment:
Marine seismic service equipment	$	3,912		$	5,969
Land and buildings		4,479			4,354
Furniture and fixtures		9,962			9,750
Autos and trucks		495			491
		18,848			20,564
Accumulated depreciation and amortization		(14,502	)		(15,813	)
Total property and equipment, net	$	4,346		$	4,751

Note 7 - Leases (Tables)

9 Months Ended

Oct. 31, 2021

Notes Tables

Assets and Liabilities, Lessee [Table Text Block]

Lease	*October 31, 2021*		*January 31, 2021*
Assets
Operating lease assets	$	1,424	$	1,471

Liabilities
Operating lease liabilities	$	1,424	$	1,471

Classification of lease liabilities
Current liabilities	$	308	$	1,008
Non-current liabilities		1,116		463
Total Operating lease liabilities	$	1,424	$	1,471

Lease, Cost [Table Text Block]

Lease term and discount rate	*October 31, 2021*			*January 31, 2021*
Weighted average remaining lease term (years)
Operating leases		1.35			1.09

Weighted average discount rate:
Operating leases		9.17	%		10	%

Lease	*Nine Months Ended October 31, 2021*			*Nine Months Ended October 31, 2020*
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(974	)	$	(828	)

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	974		$	828

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	*October 31, 2021*
2022	$	308
2023		750
2024		346
2025		134
2026		24
Thereafter		—
Total payments under lease agreements	$	1,562

Less: imputed interest		(138	)
Total lease liabilities	$	1,424

Note 9 - Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Oct. 31, 2021

Notes Tables

Schedule of Intangible Assets and Goodwill [Table Text Block]

		*October 31, 2021*										*January 31, 2021*
	*Weighted*	*Gross*								*Net*		*Gross*								*Net*
	*Average Life at*	*Carrying*		*Accumulated*			*Accumulated*			*Carrying*		*Carrying*		*Accumulated*						*Carrying*
	*10/31/2021*	*Amount*		*Amortization*			*Impairment*			*Amount*		*Amount*		*Amortization*			*Impairment*			*Amount*
Goodwill		$	7,060	$	—		$	(7,060	)	$	—	$	7,060	$	—		$	(7,060	)	$	—
Proprietary rights	6.2		8,221		(4,028	)		—			4,193		7,781		(3,688	)		—			4,093
Customer relationships	0.4		5,024		(4,772	)		—			252		5,024		(4,513	)		—			511
Patents	2.9		2,440		(1,715	)		—			725		2,440		(1,528	)		—			912
Trade name	4.6		894		(83	)		(760	)		51		894		(74	)		(760	)		60
Developed technology	4.2		1,430		(834	)		—			596		1,430		(727	)		—			703
Other	2.6		684		(311	)		—			373		684		(213	)		—			471
Amortizable intangible assets		$	18,693	$	(11,743	)	$	(760	)	$	6,190	$	18,253	$	(10,743	)	$	(760	)	$	6,750

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

For fiscal years ending January 31
2022	$	294
2023		1,167
2024		1,032
2025		837
2026		700
Thereafter		2,160
Total	$	6,190

Note 12 - Earnings Per Share (Tables)

9 Months Ended

Oct. 31, 2021

Notes Tables

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	*Three Months Ended October 31,*				*Nine Months Ended October 31,*
	*2021*		*2020*		*2021*		*2020*
	(in thousands)				(in thousands)
Basic weighted average common shares outstanding		13,774		12,313		13,769		12,223
Stock options		66		70		80		24
Unvested restricted stock		30		17		28		10
Total weighted average common share equivalents		96		87		108		34
Diluted weighted average common shares outstanding		13,870		12,400		13,877		12,257

Note 1 - Organization (Details Textual) - USD ($)	Nov. 12, 2021	Nov. 09, 2021	Oct. 31, 2021	Jan. 31, 2021
Working Capital (Deficit)			$ 14,200,000
Cash, Ending Balance			622,000
Unbilled Contracts Receivable			$ 10,000,000.0
Preferred Stock, Par or Stated Value Per Share (in dollars per share)			$ 1.00	$ 1.00
Subsequent Event [Member] \| Underwriting Agreement [Member]
Preferred Stock, Dividend Rate, Percentage	9.00%
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 1.00
Payments of Stock Issuance Costs		$ 12
Subsequent Event [Member] \| Underwriting Agreement [Member] \| Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)	432,000

Note 3 - Assets Held for Sale and Discontinued Operations - Held for Sale and Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Loss recognized on classification as held for sale	$ (3,341)		$ (3,341)		$ (2,327)
Total assets of discontinued operations	588		588		4,321
Total liabilities of discontinued operations	861		861		963
Loss on disposal (including $2,745 of cumulative translation loss)			(0)	$ (1,859)
Net income loss	(499)	$ (1,220)	(703)	(6,143)
Loss on disposal of discontinued operations			0	1,859
Sale of used lease pool equipment			0	2,010
Sale of assets held for sale			3,187	734
Purchases of seismic equipment held for lease			0	(110)
Lease Pool Equipment [Member]
Gross profit from sale of lease pool equipment			(0)	1,326
Discontinued Operations, Held-for-sale [Member]
Accounts receivable, net	1,091		1,091		1,668
Inventories, net	102		102		352
Prepaid expenses and other current assets	134		134		150
Seismic equipment lease pool and property and equipment, net	2,602		2,602		4,478
Total assets of discontinued operations	588		588		4,321
Accounts payable	95		95		59
Deferred revenue	73		73		73
Accrued expenses and other current liabilities	693		693		831
Total liabilities of discontinued operations	861		861		$ 963
Revenue from discontinued operations	53	313	840	5,731
Cost of discontinued operations	86	263	791	4,389
Selling, general and administrative	502	1,146	1,222	4,322
(Recovery) provision for doubtful accounts	(5)	0	(450)	470
Depreciation and amortization	1	43	4	128
Total operating expenses	498	1,189	776	4,920
Operating loss	(531)	(1,139)	(727)	(3,578)
Other income (expenses)	41	(75)	37	0
Loss on disposal (including $2,745 of cumulative translation loss)	0	0	0	(1,859)
Loss before income taxes	(490)
Provision for income taxes	(9)	(6)	(13)	(706)
Net income loss	(499)	(1,220)	(703)	(6,143)
Depreciation and amortization			0	1,771
Loss on disposal of discontinued operations	$ 0	$ 0	0	1,859
Sale of used lease pool equipment			0	2,010
Sale of assets held for sale			3,948	734
Purchases of seismic equipment held for lease			0	(110)
Discontinued Operations, Held-for-sale [Member] \| Lease Pool Equipment [Member]
Gross profit from sale of lease pool equipment			$ 0	$ (1,326)

Note 5 - Revenue From Contracts With Customers (Details Textual)	9 Months Ended
	Oct. 31, 2021
Minimum [Member]
Contract with Customers, Turn Over Period (Month)	3 months
Maximum [Member]
Contract with Customers, Turn Over Period (Month)	9 months

Note 5 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Total revenue from contracts with customers	$ 8,347	$ 6,541	$ 19,348	$ 14,814
Transferred at Point in Time [Member]
Total revenue from contracts with customers	8,204	6,346	18,929	14,218
Transferred over Time [Member]
Total revenue from contracts with customers	143	195	419	596
Seamap [Member] \| Transferred at Point in Time [Member]
Total revenue from contracts with customers	6,876	5,196	15,045	11,066
Seamap [Member] \| Transferred over Time [Member]
Total revenue from contracts with customers	143	195	419	596
Klein [Member] \| Transferred at Point in Time [Member]
Total revenue from contracts with customers	1,328	1,150	3,884	3,152
UNITED STATES
Total revenue from contracts with customers	967	282	1,545	2,068
Europe [Member]
Total revenue from contracts with customers	3,491	2,001	9,593	4,981
Middle East and Africa [Member]
Total revenue from contracts with customers	120	757	809	1,054
Asia Pacific [Member]
Total revenue from contracts with customers	3,667	3,342	6,560	5,841
Canada and Latin America [Member]
Total revenue from contracts with customers	$ 102	$ 159	$ 841	$ 870

Note 5 - Revenue From Contracts With Customers - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Unbilled revenue - current	$ 57	$ 85
Total unbilled revenue	57	85
Deferred revenue & customer deposits - current	863	691
Total deferred revenue & customer deposits	$ 863	$ 691

Note 6 - Balance Sheet - Continuing Operations (Details Textual) $ in Thousands	12 Months Ended
	Jan. 31, 2021 USD ($)
Impairment, Long-Lived Asset, Held-for-Use, Total	$ 0

Note 6 - Balance Sheet - Continuing Operations - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Accounts receivable	$ 9,959	$ 5,695
Less allowance for doubtful accounts	(481)	(948)
Accounts receivable net of allowance for doubtful accounts	$ 9,478	$ 4,747

Note 6 - Balance Sheet - Continuing Operations - Schedule of Inventories (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Raw materials	$ 6,796	$ 6,905
Finished goods	3,561	3,466
Work in progress	2,478	2,445
Inventory, Gross, Total	12,835	12,816
Less allowance for obsolescence	(1,337)	(1,363)
Total inventories, net	$ 11,498	$ 11,453

Note 6 - Balance Sheet - Continuing Operations - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Property and equipment, gross	$ 18,848	$ 20,564
Accumulated depreciation and amortization	(14,502)	(15,813)
Total property and equipment, net	4,346	4,751
Marine Services Equipment [Member]
Property and equipment, gross	3,912	5,969
Land and Building [Member]
Property and equipment, gross	4,479	4,354
Furniture and Fixtures [Member]
Property and equipment, gross	9,962	9,750
Vehicles [Member]
Property and equipment, gross	$ 495	$ 491

Note 7 - Leases (Details Textual) - USD ($)	3 Months Ended	9 Months Ended
Note 7 - Leases (Details Textual) - USD ($)	Oct. 31, 2021	Oct. 31, 2021
Lease, Cost, Total	$ 374,000	$ 974,000
Short-term Lease, Cost	$ 14,000	$ 42,000

Note 7 - Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
Operating lease assets	$ 1,424	$ 1,471
Operating lease liabilities	1,424	1,471
Current liabilities	308	1,008
Non-current liabilities	1,116	463
Total Operating lease liabilities	$ 1,424	$ 1,471

Note 7 - Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Weighted average remaining lease term, Operating leases (Year)	1 year 4 months 6 days		1 year 1 month 2 days
Weighted average discount rate, Operating leases	9.17%		10.00%
Operating cash flows from operating leases	$ (974)	$ (828)
Right-of-use assets obtained in exchange for lease liabilities, Operating leases	$ 974	$ 828

Note 7 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
2022	$ 308
2023	750
2024	346
2025	134
2026	24
Thereafter	0
Total payments under lease agreements	1,562
Less: imputed interest	(138)
Total lease liabilities	$ 1,424	$ 1,471

Note 8 - Contingent Liability (Details Textual) $ in Millions	9 Months Ended
	Oct. 31, 2021 USD ($)
Contingent Liability, Inova Geophysical, Claims to Subsidiary's Sale of Equipment Proceeds [Member]
Loss Contingency, Damages Sought, Value	$ 1

Note 9 - Goodwill and Other Intangible Assets (Details Textual) - USD ($)	9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Goodwill, Impairment Loss, Percentage Of Gross Carrying Amount			100.00%
Amortization of Intangible Assets, Total	$ 1,004,000	$ 1,300,000

Note 9 - Goodwill and Other Intangible Assets - Schedule of Goodwill and Other Intangible Assets (Details) - USD ($) $ in Thousands	10 Months Ended
	Oct. 31, 2021	Jan. 31, 2021
Goodwill, gross carrying amount	$ 7,060	$ 7,060
Goodwill, impairment	(7,060)	(7,060)
Goodwill, net carrying amount	0	0
Amortizable intangible assets, gross carrying amount	18,693	18,253
Amortizable intangible assets, accumulated amortization	(11,743)	(10,743)
Intangible assets, net	6,190	6,750
Amortizable intangible assets, impairment	$ (760)	(760)
Proprietary Rights [Member]
Weighted average life (Year)	6 years 2 months 12 days
Amortizable intangible assets, gross carrying amount	$ 8,221	7,781
Amortizable intangible assets, accumulated amortization	(4,028)	(3,688)
Intangible assets, net	$ 4,193	4,093
Customer Relationships [Member]
Weighted average life (Year)	4 months 24 days
Amortizable intangible assets, gross carrying amount	$ 5,024	5,024
Amortizable intangible assets, accumulated amortization	(4,772)	(4,513)
Intangible assets, net	$ 252	511
Patents [Member]
Weighted average life (Year)	2 years 10 months 24 days
Amortizable intangible assets, gross carrying amount	$ 2,440	2,440
Amortizable intangible assets, accumulated amortization	(1,715)	(1,528)
Intangible assets, net	$ 725	912
Trade Names [Member]
Weighted average life (Year)	4 years 7 months 6 days
Amortizable intangible assets, gross carrying amount	$ 894	894
Amortizable intangible assets, accumulated amortization	(83)	(74)
Intangible assets, net	51	60
Amortizable intangible assets, impairment	$ (760)	(760)
Developed Technology Rights [Member]
Weighted average life (Year)	4 years 2 months 12 days
Amortizable intangible assets, gross carrying amount	$ 1,430	1,430
Amortizable intangible assets, accumulated amortization	(834)	(727)
Intangible assets, net	$ 596	703
Other Intangible Assets [Member]
Weighted average life (Year)	2 years 7 months 6 days
Amortizable intangible assets, gross carrying amount	$ 684	684
Amortizable intangible assets, accumulated amortization	(311)	(213)
Intangible assets, net	$ 373	$ 471

Note 9 - Goodwill and Other Intangible Assets - Future Estimated Amortization Expense (Details) - USD ($) $ in Thousands	Oct. 31, 2021	Jan. 31, 2021
2022	$ 294
2023	1,167
2024	1,032
2025	837
2026	700
Thereafter	2,160
Total	$ 6,190	$ 6,750

Note 10 - Notes Payable (Details Textual) - USD ($)		1 Months Ended		9 Months Ended
Note 10 - Notes Payable (Details Textual) - USD ($)	May 05, 2020	Feb. 28, 2021	Jan. 31, 2021	Oct. 31, 2021	Oct. 31, 2020
Proceeds from Unsecured Notes Payable				$ 0	$ 1,607,000
Paycheck Protection Program CARES Act [Member]
Proceeds from Unsecured Notes Payable	$ 1,600,000
Debt Instrument, Decrease, Forgiveness		$ 850,000	$ 757,000
Notes Payable to Bank, Total				$ 0

Note 11 - Income Taxes (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
Note 11 - Income Taxes (Details Textual) - USD ($)	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Income Tax Expense (Benefit), Total	$ 59,000	$ 109,000	$ 111,000	$ (79,000)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	(2,020,000)	(2,261,000)	(8,408,000)	(10,772,000)
Deferred Tax Liabilities, Undistributed Foreign Earnings	0		0
Unrecognized Tax Benefits, Ending Balance	$ 0	$ 0	$ 0	$ 0

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 30
-Subparagraph (b)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-SubTopic 20
-Section 25
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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+ Details

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Note 12 - Earnings Per Share - Calculation of Basic and Diluted Weighted Average Common Shares Used in Earnings Per Share Calculation (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020
Basic (in shares)	13,774	12,313	13,769	12,223
Total weighted average common share equivalents (in shares)	96	87	108	34
Diluted weighted average common shares outstanding (in shares)	13,870	12,400	13,877	12,257
Share-based Payment Arrangement, Option [Member]
Stock options (in shares)	66	70	80	24
Restricted Stock [Member]
Stock options (in shares)	30	17	28	10

Note 13 - Related Party Transaction (Details Textual) - USD ($)		3 Months Ended	9 Months Ended		13 Months Ended
	Dec. 18, 2019	Oct. 31, 2021	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021	Sep. 30, 2020
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 1.00	$ 1.00		$ 1.00
Common Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.01	$ 0.01		$ 0.01
Proceeds from Issuance of Preferred Stock and Preference Stock			$ 5,145,000	$ 0
Second ATM Offering Program [Member] \| Common Stock [Member] \| Non-executive Chairman [Member]
Payments of Stock Issuance Costs			$ 1,000
Ladenburg Thalmann and Co. Inc. [Member] \| Second ATM Offering Program [Member] \| Common Stock [Member]
Equity Offering, Maximum Shares to be Issued (in shares)						5,000,000
Stock Issued During Period, Shares, New Issues (in shares)			18,415
Common Stock, Par or Stated Value Per Share (in dollars per share)						$ 0.01
Proceeds from Issuance of Preferred Stock and Preference Stock			$ 43,000
Ladenburg Thalmann and Co. Inc. [Member] \| Series A Preferred Stock [Member] \| First ATM Offering Program [Member]
Equity Offering, Maximum Shares to be Issued (in shares)	500,000
Preferred Stock, Dividend Rate, Percentage	9.00%
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 1.00
Equity Offering, Distribution Compensation, Percentage of Gross Proceeds	2.00%
Stock Issued During Period, Shares, New Issues (in shares)					994,046
Equity Offering, Distribution Compensation, Percentage of Preferred Stock Issued	100.00%
Ladenburg Thalmann and Co. Inc. [Member] \| Series A Preferred Stock [Member] \| Second ATM Offering Program [Member]
Equity Offering, Maximum Shares to be Issued (in shares)						500,000
Stock Issued During Period, Shares, New Issues (in shares)		26,506	211,246
Proceeds from Issuance of Preferred Stock and Preference Stock		$ 642,000	$ 5,100,000
Payments of Stock Issuance Costs		$ 13,000	$ 105,000

Note 14 - Equity and Stock-based Compensation (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2021	Oct. 31, 2020	Oct. 31, 2021	Oct. 31, 2020	Jan. 31, 2021
Preferred Stock, Dividends Per Share, Declared (in dollars per share)	$ 0.5625
Preferred Stock, Shares Outstanding, Ending Balance (in shares)	1,250,000		1,250,000		1,038,000
Preferred Stock, Liquidation Preference, Value	$ 31,200,000		$ 31,200,000
Share-based Payment Arrangement, Expense	$ 183,000	$ 219,000	$ 419,000	$ 449,000

Note 15 - Segment Reporting (Details Textual)	9 Months Ended
Note 15 - Segment Reporting (Details Textual)	Oct. 31, 2021
Number of Operating Segments	1

Note 16 - Corporate Restructuring (Details Textual) - shares	Oct. 31, 2021	Jan. 31, 2021	Aug. 03, 2020	Aug. 02, 2020
Common Stock and Preferred Stock, Shares Authorized (in shares)			21,000,000	42,000,000
Common Stock, Shares Authorized (in shares)	40,000,000	40,000,000	40,000,000	20,000,000
Preferred Stock, Shares Authorized (in shares)	2,000,000	2,000,000	2,000,000	1,000,000

Note 17 - Subsequent Event (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		9 Months Ended
	Nov. 12, 2021	Oct. 31, 2021	Oct. 31, 2020
Proceeds from Issuance of Preferred Stock and Preference Stock		$ 5,145	$ 0
Subsequent Event [Member] \| Underwriting Agreement [Member]
Proceeds from Issuance of Preferred Stock and Preference Stock	$ 9,500
Preferred Stock, Dividend Rate, Percentage	9.00%
Preferred Stock, Liquidation Preference Per Share (in dollars per share)	$ 25.00
Preferred Stock, Liquidation Preference Per Share, Per Annum (in dollars per share)	$ 2.25
Subsequent Event [Member] \| Underwriting Agreement [Member] \| Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)	432,000