Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.4
Stockholders' Equity (Tables)
 6 Months Ended
Oct. 31, 2020
Schedule of Restricted Stock Unit Activity
A summary of the Company’s RSU activity which were granted under the 2012 and 2018 Equity Incentive Plans during the six months ended October 31, 2020 is presented below:
Restricted Stock Units Number of Shares Weighted Average Grant Price
Unvested Balance Outstanding, April 30,2020 643,175  $ 5.64 
Granted 169,043  9.33 
Exercised —  — 
Forfeits (4,250) 7.49 
Vested (138,168) 12.83 
Expired —  — 
Unvested Balance Outstanding, October 31,2020 669,800  $ 6.16 
Summary of Warrant Activity
A summary of the Company’s warrant activity during the six months ended October 31, 2020 is presented below:
Warrants Number of
Shares		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual
Term		 Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2020 566,223  $ 6.22  3.17 $ 950,100 
Granted —  $ —  —  — 
Exercised (192,049) $ 5.60  —  — 
Surrendered —  $ —  —  — 
Expired —  $ —  —  — 
Balance Outstanding, October 31, 2020 374,174  $ 6.37  2.39 $ 1,125,177 
Exercisable, October 31, 2020 374,174  $ 6.37  2.39 $ 1,125,177 
Warrant  
Share-based Payment Arrangement, Option, Exercise Price Range
OUTSTANDING WARRANTS EXERCISABLE WARRANTS
Exercise
Price		 Weighted
Average
Exercise
Price		 Outstanding
No. of
Warrants		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining Life
In Years		 Exercisable
No. of
Warrants
$ 4.89  $ 4.89  50,000  $ 4.89  3.44 50,000 
$ 6.00  $ 6.00  100,000  $ 6.00  3.35 100,000 
$ 6.87  $ 6.87  224,174  $ 6.87  1.73 224,174 
  374,174      374,174 
Stock Incentive Plan and Stock Option Grants to Employees and Directors  
Share-based Payment Arrangement, Option, Exercise Price Range
OUTSTANDING OPTIONS EXERCISABLE OPTIONS
Exercise
Price		 Weighted
Average
Exercise
Price		 Outstanding
No. of
Options		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining Life
In Years		 Exercisable
No. of
Options
$1.57 to $2.10
 $ 1.86  35,141  $ 1.86  0.44 35,141 
$2.28 to $2.76
 $ 2.34  96,573  $ 2.34  0.25 96,573 
$3.24 to $4.38
 $ 3.90  262,658  $ 3.87  0.95 220,657 
$4.50 to $5.20
 $ 4.93  650,808  $ 4.91  1.75 540,896 
$5.95 to $6.28
 $ 6.10  67,000  $ 6.10  1.72 67,000 
$7.17 to $7.55
 $ 7.45  474,425  $ 7.43  2.87 329,175 
$8.57 to $9.07
 $ 8.98  157,749  $ 9.00  2.18 149,888 
Options only 1,744,354  1,439,330 
Summary of Valuation Assumptions Used The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the period ended:
October 31,
2020
Expected life (years) n/a
Expected volatility n/a
Risk-free interest rate n/a
Dividend yield n/a
Expected forfeiture rate n/a
Summary of Stock Option Activity
A summary of the Company’s stock option activity for employees and directors during the six months ended October 31, 2020, is presented below:
Options Number of
Shares		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual
Term		 Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2020 2,740,539  $ 4.62  1.97 $ 9,146,198 
Granted —  $ —  —  — 
Exercised (989,767) $ 10.78  —  — 
Forfeited (6,418) $ 6.51  —  — 
Expired —  $ —  —  — 
Balance Outstanding, October 31, 2020
 1,744,354  $ 5.66  1.99 $ 6,482,286 
Exercisable, October 31, 2020
 1,439,330  $ 5.66  1.79 $ 5,495,787