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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 JanuaryÌý31, 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 731,152Ìý Ìý $ 5.28Ìý Ìý 3.29 $ 413,296Ìý Ìý
Granted —Ìý Ìý —Ìý Ìý —Ìý Ìý —Ìý Ìý
Exercised (164,929) Ìý $ 2.05Ìý Ìý —Ìý Ìý —Ìý Ìý
Surrendered —Ìý Ìý —Ìý Ìý —Ìý Ìý —Ìý Ìý
Expired —Ìý Ìý —Ìý Ìý —Ìý Ìý —Ìý Ìý
Balance Outstanding, January 31, 2020 566,223Ìý Ìý $ 6.22Ìý Ìý 3.41 $ 1,425,727Ìý Ìý
Exercisable, January 31, 2020 516,223Ìý Ìý $ 6.35Ìý Ìý 3.34 $ 1,233,227Ìý Ìý
Stock Incentive Plan and Stock Option Grants to Employees and Directors Ìý
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
 $ 2.00Ìý Ìý 564,724Ìý Ìý $ 2.00Ìý Ìý 0.96 564,723Ìý Ìý
$2.28 to $2.76
 $ 2.30Ìý Ìý 382,780Ìý Ìý $ 2.29Ìý Ìý 0.60 391,736Ìý Ìý
$3.24 to $4.38
 $ 3.89Ìý Ìý 323,925Ìý Ìý $ 3.91Ìý Ìý 1.73 215,817Ìý Ìý
$4.50 to $5.20
 $ 4.93Ìý Ìý 708,960Ìý Ìý $ 4.90Ìý Ìý 2.28 336,278Ìý Ìý
$5.95 to $6.28
 $ 6.07Ìý Ìý 80,417Ìý Ìý $ 6.13Ìý Ìý 2.43 36,806Ìý Ìý
$7.17 to $7.55
 $ 7.41Ìý Ìý 551,639Ìý Ìý $ 7.32Ìý Ìý 3.82 224,546Ìý Ìý
$8.57 to $9.07
 $ 8.97Ìý Ìý 164,333Ìý Ìý $ 8.97Ìý Ìý 2.94 54,778Ìý Ìý
Options only 2,776,778Ìý Ìý 1,824,684Ìý Ìý
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 47.4Ìý % 50.1Ìý %
Risk-free interest rate 1.63Ìý % 2.63Ìý %
Dividend yield 0.00Ìý % 0.00Ìý %
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 JanuaryÌý31, 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 3,408,154Ìý Ìý $ 4.44Ìý Ìý 2.90 $ 6,880,644Ìý Ìý
Granted 150,000Ìý Ìý 5.21Ìý Ìý —Ìý Ìý —Ìý Ìý
Exercised (580,901) Ìý 2.72Ìý Ìý —Ìý Ìý —Ìý Ìý
Forfeited (200,475) Ìý 7.44Ìý Ìý —Ìý Ìý —Ìý Ìý
Expired —Ìý Ìý —Ìý Ìý —Ìý Ìý —Ìý Ìý
Balance Outstanding, JanuaryÌý31, 2020
 2,776,778Ìý Ìý $ 4.61Ìý Ìý 2.21 $ 14,302,102Ìý Ìý
Exercisable, JanuaryÌý31, 2020
 1,824,684Ìý Ìý $ 3.77Ìý Ìý 1.66 $ 11,808,246Ìý Ìý
Warrant Ìý
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
$ 4.89Ìý Ìý $ 4.89Ìý Ìý 50,000Ìý Ìý $ 4.89Ìý Ìý 4.19 50,000Ìý Ìý
$ 5.85Ìý Ìý $ 5.85Ìý Ìý 92,049Ìý Ìý $ 5.85Ìý Ìý 3.76 92,049Ìý Ìý
$ 6.00Ìý Ìý $ 6.00Ìý Ìý 200,000Ìý Ìý $ 6.00Ìý Ìý 4.10 200,000Ìý Ìý
$ 6.87Ìý Ìý $ 6.87Ìý Ìý 224,174Ìý Ìý $ 6.87Ìý Ìý 2.48 224,174Ìý Ìý
ÌýÌý Ìý 566,223Ìý Ìý ÌýÌý Ìý ÌýÌý Ìý 566,223Ìý Ìý