Stock-Based Compensation (Tables)

3 Months Ended

Oct. 31, 2020

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, 2020		8,847,025		$	0.90		5.96	$	508,932
Granted		6,222,210		$	0.35		9.84		—
Forfeited or expired		(2,146,875	)	$	0.82		6.75		—
Exercised		—			—		—		—
Outstanding – October 31, 2020		12,922,360		$	0.65		7.52	$	130,315

Schedule of non-vested stock options

A summary of the status of the Company’s non-vested stock options the three months ended October 31, 2020 is as follows:

Non-vested Options	Options			Weighted Average Grant Date Fair Value
Non-vested on July 31, 2020		4,082,767		$	1.06
Granted		6,222,210			0.35
Expired		—			—
Canceled		(366,667	)		0.79
Vested		(2,459,053	)		0.59
Non-vested on October 31, 2020		7,479,257		$	0.64

Fair value assumptions used in Black-Scholes option-pricing

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

	October 31, 2020
Exercise price		$0.31 – $0.45
Time to expiration		10 years
Risk-free interest rate		0.16% - 0.18	%
Estimated volatility		148.3% - 148.8	%
Expected dividend		—
Stock price at valuation date		$0.31 – $0.45