Stockholders' Equity (Tables)
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12 Months Ended |
Apr. 30, 2020 |
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| Stockholders' Equity Note [Abstract] |
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| Schedule of Restricted Stock Unit Activity |
A summary of the Company’s Restricted Stock Unit activity during the year ended April 30, 2020 is presented below:
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Number of Shares |
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Weighted Average Grant Price |
| Restricted Stock Units |
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| Balance outstanding at April 30, 2019 |
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— |
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$ |
— |
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| Granted |
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658,675 |
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|
5.67 |
| Vested |
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(15,000) |
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|
6.89 |
| Forfeited |
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(500) |
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5.18 |
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| Balance outstanding at April 30, 2020 |
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643,175 |
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5.64 |
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| Schedule of Warrants |
A summary of the Company’s warrant activity during the year ended April 30, 2020 is presented below:
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Warrants |
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Number of Shares |
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Weighted
Average
Exercise
Price
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Weighted
Average
Remaining
Contractual
Term
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Aggregate
Intrinsic
Value
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| Balance Outstanding, April 30, 2019 |
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731,152 |
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$ |
5.28 |
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|
3.29 |
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$ |
413,296 |
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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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(164,929) |
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2.05 |
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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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— |
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— |
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— |
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— |
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| Balance Outstanding, April 30, 2020 |
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566,223 |
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$ |
6.22 |
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3.17 |
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$ |
950,100 |
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| Exercisable, April 30, 2020 |
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566,223 |
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$ |
6.22 |
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3.17 |
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$ |
950,100 |
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| Schedule of All Warrants and Exercisable Warrants |
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ALL WARRANTS |
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EXERCISABLE WARRANTS |
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Exercise
Price
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Weighted
Average
Exercise
Price
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Outstanding
No. of
Warrants
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Weighted
Average
Exercise
Price
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Weighted
Average
Remaining Life
In Years
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Exercisable
No. of
Warrants
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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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3.85 |
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50,000 |
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| $ |
5.85 |
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$ |
5.85 |
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92,049 |
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$ |
5.85 |
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3.82 |
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92,049 |
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| $ |
6.00 |
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$ |
6.00 |
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200,000 |
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$ |
6.00 |
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3.85 |
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200,000 |
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| $ |
6.87 |
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$ |
6.87 |
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224,174 |
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$ |
6.87 |
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2.24 |
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224,174 |
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566,223 |
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566,223 |
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ALL OPTIONS |
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EXERCISABLE OPTIONS |
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Exercise
Price
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Weighted
Average
Exercise
Price
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Outstanding
No. 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
No. of
Options
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$1.57 to $2.10 |
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$2.00 |
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561,724 |
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$2.00 |
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0.71 |
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561,724 |
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$2.28 to $2.76 |
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$2.30 |
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374,446 |
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$2.30 |
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0.41 |
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374,446 |
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$3.24 to $4.38 |
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$3.89 |
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327,730 |
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$3.87 |
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1.60 |
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275,063 |
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$4.50 to $5.20 |
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$4.94 |
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677,277 |
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$4.94 |
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2.54 |
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226,125 |
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$5.95 to $6.28 |
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$6.07 |
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79,917 |
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$6.07 |
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2.20 |
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26,639 |
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$7.17 to $7.55 |
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$7.41 |
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549,639 |
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$7.32 |
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3.58 |
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223,880 |
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$8.57 to $9.07 |
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$8.97 |
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164,166 |
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$8.97 |
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2.69 |
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54,722 |
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| Options only |
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2,734,899 |
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1,742,599 |
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| Schedule of Assumptions Used to Value 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.
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April 30, |
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2020 |
|
2019 |
Expected life (years) |
3.5 |
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3.5 |
Expected volatility |
57.0 |
% |
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50.1 |
% |
Risk-free interest rate |
0.24 |
% |
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2.63 |
% |
Dividend yield |
0.00 |
% |
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0.00 |
% |
Expected forfeiture rate |
n/a |
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n/a |
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| Schedule of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the year ended April 30, 2020, is presented below:
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Options |
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Number of
Shares
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|
Weighted
Average
Exercise
Price
|
|
Weighted
Average
Remaining
Contractual
Term
|
|
Aggregate
Intrinsic
Value
|
| Balance Outstanding, April 30, 2019 |
|
3,408,154 |
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|
$ |
4.44 |
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|
2.90 |
|
$ |
6,880,644 |
|
Granted |
|
156,900 |
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|
5.18 |
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|
— |
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— |
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Exercised |
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(624,346) |
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|
3.17 |
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— |
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— |
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Forfeited |
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(205,809) |
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|
7.37 |
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— |
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— |
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Expired |
|
— |
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— |
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— |
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— |
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| Balance Outstanding, April 30, 2020 |
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2,734,899 |
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|
$ |
4.62 |
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|
1.97 |
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$ |
9,146,198 |
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| Exercisable, April 30, 2020 |
|
1,742,599 |
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$ |
3.71 |
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1.48 |
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$ |
7,366,936 |
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