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Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.19.3.a.u2
Stockholders' Equity (Tables)
6 Months Ended
Oct. 31, 2019
Summary of Warrant Activity
A summary of the Company’s warrant activity during the six months ended OctoberÌý31, 2019 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, October 31, 2019 566,223Ìý Ìý $ 6.22Ìý Ìý 3.66 $ 154,820Ìý Ìý
Exercisable, October 31, 2019 516,223Ìý Ìý $ 6.35Ìý Ìý 3.59 $ 86,820Ìý 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
$ 1.99Ìý Ìý 600,115Ìý Ìý $ 1.99Ìý Ìý 1.18 600,115Ìý Ìý
$2.28 to $2.76
$ 2.31Ìý Ìý 392,780Ìý Ìý $ 2.29Ìý Ìý 0.87 400,486Ìý Ìý
$3.24 to $4.38
$ 3.90Ìý Ìý 358,388Ìý Ìý $ 3.93Ìý Ìý 2.00 235,904Ìý Ìý
$4.50 to $5.20
$ 4.93Ìý Ìý 711,459Ìý Ìý $ 4.90Ìý Ìý 2.53 336,611Ìý Ìý
$5.95 to $6.28
$ 6.07Ìý Ìý 80,417Ìý Ìý $ 6.13Ìý Ìý 2.68 36,806Ìý Ìý
$7.17 to $7.55
$ 7.39Ìý Ìý 660,972Ìý Ìý $ 7.39Ìý Ìý 3.73 220,324Ìý Ìý
$8.57 to $9.07
$ 8.98Ìý Ìý 217,000Ìý Ìý $ 8.98Ìý Ìý 3.44 72,333Ìý Ìý
Options only 3,021,131Ìý Ìý 1,902,579Ìý 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.
October 31,
2019
April 30,
2019
Expected life (years) 3.5 3.5
Expected volatility 46.0Ìý % 50.1Ìý %
Risk-free interest rate 1.67Ìý % 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 six months ended OctoberÌý31, 2019, 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 89,000Ìý Ìý 4.03Ìý Ìý —Ìý Ìý —Ìý Ìý
Exercised (453,660) Ìý 2.20Ìý Ìý —Ìý Ìý —Ìý Ìý
Forfeited (22,363) Ìý 5.92Ìý Ìý —Ìý Ìý —Ìý Ìý
Expired —Ìý Ìý —Ìý Ìý —Ìý Ìý —Ìý Ìý
Balance Outstanding, OctoberÌý31, 2019
3,021,131Ìý Ìý $ 4.57Ìý Ìý 2.90 $ 6,880,644Ìý Ìý
Exercisable, OctoberÌý31, 2019
1,902,579Ìý Ìý $ 3.78Ìý Ìý 1.86 $ 7,545,471Ìý 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 4.70 —Ìý Ìý
$ 5.85Ìý Ìý $ 5.85Ìý Ìý 92,049Ìý Ìý $ 5.85Ìý Ìý 4.27 92,049Ìý Ìý
$ 6.00Ìý Ìý $ 6.00Ìý Ìý 200,000Ìý Ìý $ 6.00Ìý Ìý 4.60 200,000Ìý Ìý
$ 6.87Ìý Ìý $ 6.87Ìý Ìý 224,174Ìý Ìý $ 6.87Ìý Ìý 2.99 224,174Ìý Ìý
ÌýÌý Ìý 566,223Ìý Ìý ÌýÌý Ìý ÌýÌý Ìý 516,223Ìý Ìý