Stock-Based Compensation (Tables)

9 Months Ended

Apr. 30, 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		9.32		—		—
Forfeited or expired		(2,483,375	)	$	0.88		6.10		—		—
Outstanding – April 30, 2021		12,605,860		$	0.63		7.07	$	195,507		6,198,273

Schedule of non-vested stock options

A summary of the status of the Company’s non-vested stock options the nine months ended April 30, 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
Canceled/forfeited		(571,001	)		0.96
Vested		(3,555,703	)		0.56
Non-vested on April 30, 2021		6,198,273		$	0.65

Fair value assumptions used in Black-Scholes option-pricing

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

	Nine Months Ended April 30, 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