Stockholders' Equity (Tables)
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3 Months Ended |
Jul. 31, 2022 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of Restricted Stock Unit Activity |
A summary of the Company’s RSU activity, granted under the 2012 and 2018 Equity Incentive Plans, during the three months ended July 31, 2022 is presented below:
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| Restricted Stock Units |
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Number of Shares |
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Weighted Average Grant Date Fair Value |
| Unvested balance outstanding, April 30, 2022 |
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929,928 |
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$ |
6.12 |
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| Granted |
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— |
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— |
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| Forfeits |
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(172,828) |
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|
7.65 |
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| Vested |
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(14,345) |
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|
0.97 |
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| Expired |
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— |
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— |
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| Unvested balance outstanding, July 31, 2022 |
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742,755 |
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$ |
5.86 |
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| Summary of Warrant Activity |
A summary of the Company’s warrant activity during the three months ended July 31, 2022 is presented below:
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| Warrants |
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Number of
Shares |
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Weighted
Average
Exercise
Price |
|
Weighted
Average
Remaining
Contractual
Term |
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Aggregate
Intrinsic
Value |
| Balance Outstanding, April 30, 2022 |
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649,174 |
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$ |
4.70 |
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|
1.96 |
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$ |
— |
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| Granted |
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— |
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$ |
— |
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— |
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— |
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| Exercised |
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— |
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$ |
— |
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— |
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— |
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| Surrendered |
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— |
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$ |
— |
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— |
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— |
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| Expired |
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(224,174) |
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$ |
6.87 |
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— |
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— |
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| Balance Outstanding, July 31, 2022 |
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425,000 |
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$ |
4.70 |
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1.96 |
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$ |
— |
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| Exercisable, July 31, 2022 |
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400,000 |
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$ |
4.89 |
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1.80 |
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$ |
— |
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| Share-based Payment Arrangement, Option, Exercise Price Range |
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| OUTSTANDING WARRANTS |
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EXERCISABLE WARRANTS |
Exercise
Price |
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Weighted
Average
Exercise
Price |
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Outstanding
Number of
Warrants |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining Life
In Years |
|
Exercisable
Number of
Warrants |
| $ |
1.00 |
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1.00 |
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200,000 |
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$ |
1.00 |
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4.74 |
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200,000 |
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| $ |
4.89 |
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$ |
4.89 |
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50,000 |
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$ |
4.89 |
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1.70 |
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50,000 |
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| $ |
5.85 |
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$ |
5.85 |
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50,000 |
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$ |
5.85 |
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4.09 |
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50,000 |
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| $ |
6.00 |
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$ |
6.00 |
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100,000 |
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$ |
6.00 |
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1.60 |
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100,000 |
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| $ |
6.99 |
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$ |
6.99 |
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25,000 |
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$ |
0.00 |
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0.00 |
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— |
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425,000 |
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400,000 |
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| OUTSTANDING OPTIONS |
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EXERCISABLE OPTIONS |
Exercise
Price |
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Weighted
Average
Exercise
Price |
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Outstanding
Number of
Options |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining Life
In Years |
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Exercisable
Number of
Options |
$3.24 to $4.38 |
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$ |
3.82 |
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36,331 |
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$ |
4.00 |
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2.00 |
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36,331 |
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$4.50 to $5.20 |
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$ |
4.94 |
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135,510 |
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$ |
4.99 |
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1.52 |
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134,877 |
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$5.95 to $6.28 |
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$ |
5.95 |
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28,000 |
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$ |
5.95 |
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0.06 |
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28,000 |
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$7.17 to $7.55 |
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$ |
7.45 |
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472,592 |
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$ |
7.46 |
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1.07 |
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464,592 |
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$8.57 to $9.07 |
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$ |
8.98 |
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122,749 |
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$ |
8.96 |
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0.44 |
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122,749 |
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795,182 |
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786,549 |
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| Summary of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the three months ended July 31, 2022, is presented below:
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| Options |
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Number of
Shares |
|
Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Term |
|
Aggregate
Intrinsic
Value |
Balance Outstanding, April 30, 2022 |
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860,182 |
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$ |
7.03 |
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1.25 |
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$ |
— |
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| Granted |
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— |
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— |
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— |
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— |
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| Exercised |
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— |
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— |
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— |
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— |
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| Forfeited |
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(36,000) |
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8.98 |
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— |
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— |
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| Expired |
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(29,000) |
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4.19 |
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— |
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— |
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Balance Outstanding, July 31, 2022 |
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795,182 |
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$ |
7.05 |
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1.07 |
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$ |
— |
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Exercisable, July 31, 2022 |
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786,549 |
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$ |
7.05 |
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1.06 |
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$ |
— |
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| Schedule of Share-Based Compensation |
A summary of the Company’s stock-based compensation expense, which is included in "general and administrative" expense in the consolidated statement of operations is presented below:
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Three Months Ended July 31, |
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2022 |
|
2021 |
| RSUs |
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$ |
41,053 |
|
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$ |
446,777 |
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| Restricted Stock |
|
— |
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|
10,527 |
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| Stock options |
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5,277 |
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|
85,408 |
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| Total stock-based compensation expense |
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$ |
46,330 |
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$ |
542,712 |
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