Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.22.2.2
Stockholders' Equity (Tables)
 6 Months Ended
Oct. 31, 2022
Stockholders' Equity Note [Abstract]  
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 six months ended October 31, 2022 is presented below:
Restricted Stock Units Number of Shares Weighted Average Grant Date Fair Value
Unvested balance outstanding, April 30, 2022 929,928  $ 6.12 
Granted —  — 
Forfeits (179,883) 7.69 
Vested (189,693) 1 0.79 
Expired —  — 
Unvested balance outstanding, October 31, 2022 560,352  $ 7.42 
___________________
1 Includes 123,448 RSUs that will be issued in the third quarter of fiscal year 2023.
Summary of Warrant Activity A summary of the Company’s warrant activity during the six months ended October 31, 2022 is presented below:
Warrants Number of
Shares		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual
Term		 Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2022 649,174  $ 4.70  1.96 $ — 
Granted —  $ —  —  — 
Exercised —  $ —  —  — 
Surrendered —  $ —  —  — 
Expired (224,174) $ 6.87  —  — 
Balance Outstanding, October 31, 2022 425,000  $ 3.56  3.27 $ — 
Unvested (16,667)
Exercisable, October 31, 2022 408,333  $ 3.42  3.17 $ — 
Share-based Payment Arrangement, Option, Exercise Price Range
OUTSTANDING WARRANTS EXERCISABLE WARRANTS
Exercise
Price		 Weighted
Average
Exercise
Price		 Outstanding
Number of
Warrants		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining Life
In Years		 Exercisable
Number of
Warrants
$ 1.00  1.00  200,000  $ 1.00  4.48 200,000 
$ 4.89  $ 4.89  50,000  $ 4.89  1.44 50,000 
$ 5.85  $ 5.85  50,000  $ 5.85  1.35 50,000 
$ 6.00  $ 6.00  100,000  $ 6.00  3.84 100,000 
$ 6.99  $ 6.99  25,000  $ 6.99  3.72 8,333 
  425,000      408,333 
OUTSTANDING OPTIONS EXERCISABLE OPTIONS
Exercise
Price		 Weighted
Average
Exercise
Price		 Outstanding
Number of
Options		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining Life
In Years		 Exercisable
Number of
Options
$3.24 to $4.38
 $ 3.82  31,998  $ 4.00  1.75 31,998 
$4.50 to $5.20
 $ 4.94  123,379  $ 4.97  1.28 123,379 
$7.17 to $7.55
 $ 7.45  463,702  $ 7.46  0.83 463,702 
$8.57 to $9.07
 $ 8.98  114,749  $ 8.98  0.18 114,749 
733,828  733,828 
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, 2022, is presented below:
Options Number of
Shares		 Weighted
Average
Exercise
Price		 Weighted
Average
Remaining
Contractual
Term		 Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2022
 860,182  $ 7.03  1.25 $ — 
Granted —  —  —  — 
Exercised —  —  —  — 
Forfeited (36,634) 8.89  —  — 
Expired (89,720) 5.53  —  — 
Balance Outstanding, October 31, 2022
 733,828  $ 7.12  0.86 $ — 
Exercisable, October 31, 2022
 733,828  $ 7.12  0.84 $ — 
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:


Three Months Ended October 31, Six Months Ended October 31,
2022 2021 2022 2021
RSUs $ 458,206  $ 688,129  $ 499,259  $ 1,134,906 
Restricted Stock —  10,525  —  21,052 
Stock options 130  23,504  5,407  108,912 
Total stock-based compensation expense $ 458,336  $ 722,158  $ 504,666  $ 1,264,870