Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.1
Stockholders' Equity (Tables)
 9 Months Ended
Jan. 31, 2020
Summary of Warrant Activity
A summary of the Company’s warrant activity during the nine months ended January 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, 2019 731,152    $ 5.28    3.29 $ 413,296   
Granted —    —    —    —   
Exercised (164,929)   $ 2.05    —    —   
Surrendered —    —    —    —   
Expired —    —    —    —   
Balance Outstanding, January 31, 2020 566,223    $ 6.22    3.41 $ 1,425,727   
Exercisable, January 31, 2020 516,223    $ 6.35    3.34 $ 1,233,227   
Stock Incentive Plan and Stock Option Grants to Employees and Directors  
Share-based Payment Arrangement, Option, Exercise Price Range
ALL 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
 $ 2.00    564,724    $ 2.00    0.96 564,723   
$2.28 to $2.76
 $ 2.30    382,780    $ 2.29    0.60 391,736   
$3.24 to $4.38
 $ 3.89    323,925    $ 3.91    1.73 215,817   
$4.50 to $5.20
 $ 4.93    708,960    $ 4.90    2.28 336,278   
$5.95 to $6.28
 $ 6.07    80,417    $ 6.13    2.43 36,806   
$7.17 to $7.55
 $ 7.41    551,639    $ 7.32    3.82 224,546   
$8.57 to $9.07
 $ 8.97    164,333    $ 8.97    2.94 54,778   
Options only 2,776,778    1,824,684   
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.
January 31,
2020		 April 30,
2019
Expected life (years) 3.5 3.5
Expected volatility 47.4  % 50.1  %
Risk-free interest rate 1.63  % 2.63  %
Dividend yield 0.00  % 0.00  %
Expected forfeiture rate n/a n/a
Summary of Stock Option Activity
A summary of the Company’s stock option activity for employees and directors during the nine months ended January 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, 2019 3,408,154    $ 4.44    2.90 $ 6,880,644   
Granted 150,000    5.21    —    —   
Exercised (580,901)   2.72    —    —   
Forfeited (200,475)   7.44    —    —   
Expired —    —    —    —   
Balance Outstanding, January 31, 2020
 2,776,778    $ 4.61    2.21 $ 14,302,102   
Exercisable, January 31, 2020
 1,824,684    $ 3.77    1.66 $ 11,808,246   
Warrant  
Share-based Payment Arrangement, Option, Exercise Price Range
ALL 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    4.19 50,000   
$ 5.85    $ 5.85    92,049    $ 5.85    3.76 92,049   
$ 6.00    $ 6.00    200,000    $ 6.00    4.10 200,000   
$ 6.87    $ 6.87    224,174    $ 6.87    2.48 224,174   
     566,223              566,223