Stock-Based Compensation (Tables)

6 Months Ended

Jan. 31, 2021

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		Non-vested Awards
Outstanding - July 31, 2020		8,847,025		$	0.90		5.96	$	508,206	$	—
Granted		6,242,210		$	0.35		9.57		—		—
Forfeited or expired		(2,146,875	)	$	0.82		6.50		—		—
Outstanding – January 31, 2021		12,942,360		$	0.65		7.26	$	916,842	$	3,895,463

Schedule of non-vested stock options

A summary of the status of the Company’s non-vested stock options the six  months ended January 31, 2021 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		6,242,210			0.35
Expired		—			—
Canceled		(366,667	)		0.79
Vested		(2,947,803	)		0.59
Non-vested on January 31, 2021		7,010,507		$	0.64

Fair value assumptions used in Black-Scholes option-pricing

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

	Six Months Ended January 31, 2021
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