Stock-Based Compensation (Tables)

3 Months Ended

Oct. 31, 2019

Share-based Payment Arrangement [Abstract]

Common stock options granted, forfeited or expired and exercised

The following is a summary of the common stock options granted, forfeited or expired and exercised under the Plan:

	Options			Weighted Average Exercise Price per Share		Weighted Average Remaining Life (Years)		Aggregate Intrinsic Value
Outstanding - July 31, 2019		7,988,675		$	0.84		7.21	$	15,961,391
Granted		1,003,000		$	2.09		4.92		—
Forfeited or expired		(130,000	)	$	1.11		7.65		—
Exercised		—			—		—		—
Outstanding - October 31, 2019		8,861,675		$	0.98		6.71	$	5,859,392

Fair value assumptions used in Black-Scholes option-pricing

The following assumptions were used in the Black-Scholes option-pricing model:

	October 31, 2019
Exercise price		$2.01 – 2.09
Time to expiration		5 years
Risk-free interest rate		1.51% - 1.59%
Estimated volatility		153.4	%
Expected dividend		—
Stock price at valuation date		$2.01 – 2.09