Aspen Group, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events	12 Months Ended
Apr. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Note 15. Subsequent Events On May 19, 2016, the Company granted to each of its non-employee directors 150,000 five-year stock options. The Company granted an additional 50,000 five-year stock options to the chairman of the Compensation Committee and to the chairman of the Audit Committee. These options are exercisable at $0.16 and vest in three years. For the directors receiving 150,000, the fair value was approximately $7,500 per grant and for the two directors receiving 200,000 options, the fair value on the date of grant was approximately $10,000. On June 23, 2016, the Company amended the 2012 Equity Incentive Plan to increase the number of authorized shares under the Plan by 5 million shares to a total of 25.3 million shares. In addition, on June 23, 2016, the Company granted 2,000,000 stock options to the Chief Operating Officer, 700,000 stock options to the Chief Academic Officer and 300,000 to the Chief Financial Officer. The five-year options are exercisable at a price of $0.166 and vest over three years. On the date of grant, the grant to the Chief Operating Officer had a fair value of approximately $100,000, the grant to the Chief Academic Officer had a fair value of approximately $35,000 and the grant to the Chief Financial Officer had a fair value of approximately $15,000. Effective July 1, 2016, the Company increased the Chief Operating Officers salary from $200,000 to $240,000 and the Chief Financial Officers salary from $200,000 to $220,000. On June 24, 2016, the Company issued 2,500,000 shares of common stock with a fair value of $400,000 based on the $0.16 grant date fair value and agreed to pay $400,000 to a former institutional investor in exchange for the surrender of 13,451,613 warrants exercisable at $0.155 per share. The Company has issued a total of 500,000 shares of restricted common stock to two investor relations firms for services to be rendered over six (for one firm) and 12 months. The stock price on the grant dates were $0.15 and accordingly, the company will amortize $75,000 over the respective terms of the agreements.

Subsequent Events

12 Months Ended

Apr. 30, 2016

Note 15. Subsequent Events

On May 19, 2016, the Company granted to each of its non-employee directors 150,000 five-year stock options. The Company granted an additional 50,000 five-year stock options to the chairman of the Compensation Committee and to the chairman of the Audit Committee. These options are exercisable at $0.16 and vest in three years. For the directors receiving 150,000, the fair value was approximately $7,500 per grant and for the two directors receiving 200,000 options, the fair value on the date of grant was approximately $10,000.

On June 23, 2016, the Company amended the 2012 Equity Incentive Plan to increase the number of authorized shares under the Plan by 5 million shares to a total of 25.3 million shares.

In addition, on June 23, 2016, the Company granted 2,000,000 stock options to the Chief Operating Officer, 700,000 stock options to the Chief Academic Officer and 300,000 to the Chief Financial Officer. The five-year options are exercisable at a price of $0.166 and vest over three years. On the date of grant, the grant to the Chief Operating Officer had a fair value of approximately $100,000, the grant to the Chief Academic Officer had a fair value of approximately $35,000 and the grant to the Chief Financial Officer had a fair value of approximately $15,000.

Effective July 1, 2016, the Company increased the Chief Operating Officers salary from $200,000 to $240,000 and the Chief Financial Officers salary from $200,000 to $220,000.

On June 24, 2016, the Company issued 2,500,000 shares of common stock with a fair value of $400,000 based on the $0.16 grant date fair value and agreed to pay $400,000 to a former institutional investor in exchange for the surrender of 13,451,613 warrants exercisable at $0.155 per share.

The Company has issued a total of 500,000 shares of restricted common stock to two investor relations firms for services to be rendered over six (for one firm) and 12 months. The stock price on the grant dates were $0.15 and accordingly, the company will amortize $75,000 over the respective terms of the agreements.