Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.23.1
Stockholders' Equity (Tables)
9 Months Ended
Jan. 31, 2023
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 nine months ended January 31, 2023 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 15,000  0.35 
Forfeits (185,059) 7.65 
Vested (236,813) 0.70 
Expired —  — 
Unvested balance outstanding, January 31, 2023 523,056  $ 7.87 
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Summary of Warrant Activity A summary of the Company’s warrant activity during the nine months ended January 31, 2023 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, January 31, 2023 425,000  $ 3.56  3.02 $ — 
Unvested (16,667)
Exercisable, January 31, 2023 408,333  $ 3.42  3.00 $ — 
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  4.23 200,000 
$ 4.89  $ 4.89  50,000  $ 4.89  1.19 50,000 
$ 5.85  $ 5.85  50,000  $ 5.85  3.58 50,000 
$ 6.00  $ 6.00  100,000  $ 6.00  1.09 100,000 
$ 6.99  $ 6.99  25,000  $ 6.99  3.47 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
$ 4.00  31,665  $ 4.00  1.50 31,665 
$4.50 to $5.20
$ 4.97  119,876  $ 4.97  1.03 119,876 
$7.17 to $7.55
$ 7.45  462,917  $ 7.45  0.60 462,917 
614,458  614,458 
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, 2023, 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 (209,090) 7.42  —  — 
Balance Outstanding, January 31, 2023
614,458  $ 6.79  0.73 $ — 
Exercisable, January 31, 2023
614,458  $ 6.79  0.73 $ — 
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 January 31, Nine Months Ended January 31,
2023 2022 2023 2022
RSUs $ 394,510  $ 397,241  $ 893,769  $ 1,532,147 
Restricted Stock —  286,231  —  307,283 
Stock options —  17,225  5,407  126,137 
Total stock-based compensation expense $ 394,510  $ 700,697  $ 899,176  $ 1,965,567