Stockholders' Equity (Tables)
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12 Months Ended |
Apr. 30, 2022 |
Stockholders' Equity Note [Abstract] |
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Schedule of Restricted Stock Unit Activity |
A summary of the Company’s RSU activity which were granted under the 2021 and 2018 Equity Incentive Plans during the year ended April 30, 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, 2021 |
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549,972 |
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$ |
6.58 |
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Granted |
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520,142 |
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5.58 |
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Forfeits |
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(54,610) |
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8.49 |
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Vested |
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(85,576) |
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4.27 |
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Expired |
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— |
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— |
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Unvested balance outstanding, April 30, 2022 |
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929,928 |
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$ |
6.12 |
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Summary of Warrant Activity |
A summary of the Company’s warrant activity during the year ended April 30, 2022 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 |
Balance Outstanding, April 30, 2021 |
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374,174 |
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$ |
6.37 |
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1.9 |
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— |
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Granted |
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275,000 |
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2.43 |
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4.80 |
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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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— |
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— |
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— |
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— |
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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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Exercisable, April 30, 2022 |
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624,174 |
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$ |
4.61 |
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2.48 |
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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 |
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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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4.99 |
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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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1.95 |
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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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4.34 |
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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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1.85 |
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100,000 |
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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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0.24 |
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224,174 |
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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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— |
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— |
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649,174 |
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624,174 |
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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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63,165 |
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$4.50 |
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1.44 |
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51,998 |
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$4.50 to $5.20 |
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$4.94 |
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138,176 |
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$4.98 |
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1.74 |
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137,543 |
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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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0.31 |
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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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473,092 |
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$7.46 |
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1.32 |
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465,095 |
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$8.57 to $9.07 |
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$8.98 |
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157,749 |
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$8.98 |
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0.69 |
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157,749 |
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860,182 |
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840,385 |
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Summary of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the year ended April 30, 2022, is presented below:
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Options |
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Number of Shares |
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Weighted Average Exercise Price |
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Weighted Average Remaining Contractual Term |
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Aggregate Intrinsic Value |
Balance Outstanding, April 30, 2021 |
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1,214,473 |
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$ |
6.24 |
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1.88 |
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$ |
204,719 |
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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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(258,419) |
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5.60 |
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— |
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— |
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Forfeited |
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(7,297) |
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2.89 |
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— |
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— |
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Expired |
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(88,575) |
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0.83 |
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— |
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— |
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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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Exercisable, April 30, 2022 |
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840,385 |
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$ |
7.08 |
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1.24 |
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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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Years Ended April 30, |
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2022 |
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2021 |
RSUs |
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$ |
2,095,533 |
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$ |
3,335,250 |
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Restricted Stock |
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307,283 |
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62,007 |
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Stock options |
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131,849 |
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560,828 |
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Total stock-based compensation expense |
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$ |
2,534,665 |
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$ |
3,958,085 |
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