Aspen Group, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

3 Months Ended

Jul. 31, 2019

A summary of the Companys warrant activity during the three months ended July 31, 2019 is presented below:


						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
Warrants	Shares			Price		Term		Value
Balance Outstanding, April 30, 2019		731,152		$	5.28		3.29	$	413,296
Granted
Exercised		(43,860	)
Surrendered
Expired
Balance Outstanding, July 31, 2019		687,292		$	5.47		3.24	$	244,286

Exercisable, July 31, 2019		637,292		$	5.52		3.13	$	244,286

Stock Incentive Plan and Stock Option Grants to Employees and Directors [Member]

Schedule of Options and Warrants by Exercise Price Range


ALL OPTIONS				EXERCISABLE OPTIONS
		Weighted			Weighted	Weighted
		Average	Outstanding		Average	Average	Exercisable
Exercise		Exercise	No. of		Exercise	Remaining Life	No. of
Price		Price	Options		Price	In Years	Options

	$1.57 to $2.10	$1.98	736,577		$1.98	2.29	736,577

	$2.28 to $2.76	$2.31	462,747		$2.31	1.09	456,287

	$3.24 to $4.38	$3.86	363,223		$3.90	2.30	274,127

	$4.50 to $5.20	$4.93	714,792		$4.90	2.79	336,833

	$5.95 to $6.28	$6.07	80,417		$6.13	2.93	36,806

	$7.17 to $7.55	$7.39	662,417		$7.51	3.91	144,139

	$8.57 to $9.07	$8.98	217,667		$8.98	3.44	72,555

	Options only		3,237,840				2,057,324

Schedule of Assumptions Used In Valuing Stock Options

The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the period ended.


	July 31,			April 30,
	2019			2019
Expected life (years)		3			3.5
Expected volatility		46	%		50.1	%
Risk-free interest rate		2.18	%		2.63	%
Dividend yield		0.00	%		0.00	%
Expected forfeiture rate		n/a			n/a

Schedule of Stock Option Activity

A summary of the Companys stock option activity for employees and directors during the three months ended July 31, 2019, is presented below:


						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
Options	Shares			Price		Term		Value
Balance Outstanding, April 30, 2019		3,408,154		$	4.44		2.90	$	6,880,644
Granted		30,000			4.12
Exercised		(191,147	)		1.88
Forfeited		(9,167	)		7.62
Expired
Balance Outstanding, July 31, 2019		3,237,840		$	4.57		2.90	$	6,880,644

Exercisable, July 31, 2019		2,057,324		$	3.50		2.79	$	5,130,588

Warrant [Member]

Schedule of Options and Warrants by Exercise Price Range


ALL WARRANTS				EXERCISABLE WARRANTS
		Weighted			Weighted	Weighted
		Average	Outstanding		Average	Average	Exercisable
Exercise		Exercise	No. of		Exercise	Remaining Life	No. of
Price		Price	Warrants		Price	In Years	Warrants

	$1.86	$1.86	88,710		$1.86	0.09	88,710

	$2.28	$2.28	32,359		$2.28	0.10	32,359

	$4.89	$4.89	50,000		$4.89	4.70

	$5.85	$5.85	92,049		$5.85	4.27	92,049

	$6.00	$6.00	200,000		$6.00	4.60	200,000

	$6.87	$6.87	224,174		$6.87	2.99	224,174

			687,292				637,292