XML 44 R24.htm IDEA: XBRL DOCUMENT v3.20.1
Stockholders' Equity (Tables)
 9 Months Ended
Jan. 31, 2020
Summary of Warrant Activity
A summary of the Company’s warrant activity during the nine months ended January 31, 2020 is presented below:
WarrantsNumber of
Shares		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2019731,152  $5.28  3.29$413,296  
Granted—  —  —  —  
Exercised(164,929) $2.05  —  —  
Surrendered—  —  —  —  
Expired—  —  —  —  
Balance Outstanding, January 31, 2020566,223  $6.22  3.41$1,425,727  
Exercisable, January 31, 2020516,223  $6.35  3.34$1,233,227  
Stock Incentive Plan and Stock Option Grants to Employees and Directors  
Share-based Payment Arrangement, Option, Exercise Price Range
ALL OPTIONSEXERCISABLE 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
$2.00  564,724  $2.00  0.96564,723  
$2.28 to $2.76
$2.30  382,780  $2.29  0.60391,736  
$3.24 to $4.38
$3.89  323,925  $3.91  1.73215,817  
$4.50 to $5.20
$4.93  708,960  $4.90  2.28336,278  
$5.95 to $6.28
$6.07  80,417  $6.13  2.4336,806  
$7.17 to $7.55
$7.41  551,639  $7.32  3.82224,546  
$8.57 to $9.07
$8.97  164,333  $8.97  2.9454,778  
Options only2,776,778  1,824,684  
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.
January 31,
2020		April 30,
2019
Expected life (years)3.53.5
Expected volatility47.4 %50.1 %
Risk-free interest rate1.63 %2.63 %
Dividend yield0.00 %0.00 %
Expected forfeiture raten/an/a
Summary of Stock Option Activity
A summary of the Company’s stock option activity for employees and directors during the nine months ended January 31, 2020, is presented below:
OptionsNumber of
Shares		Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 20193,408,154  $4.44  2.90$6,880,644  
Granted150,000  5.21  —  —  
Exercised(580,901) 2.72  —  —  
Forfeited(200,475) 7.44  —  —  
Expired—  —  —  —  
Balance Outstanding, January 31, 2020
2,776,778  $4.61  2.21$14,302,102  
Exercisable, January 31, 2020
1,824,684  $3.77  1.66$11,808,246  
Warrant  
Share-based Payment Arrangement, Option, Exercise Price Range
ALL WARRANTSEXERCISABLE 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
$4.89  $4.89  50,000  $4.89  4.1950,000  
$5.85  $5.85  92,049  $5.85  3.7692,049  
$6.00  $6.00  200,000  $6.00  4.10200,000  
$6.87  $6.87  224,174  $6.87  2.48224,174  
   566,223        566,223