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Stockholders' Equity (Tables)
6 Months Ended
Oct. 31, 2022
Stockholders' Equity Note [Abstract]  
Schedule of Restricted Stock Unit Activity
A summary of the Company’s RSU activity, granted under the 2012 and 2018 Equity Incentive Plans, during the six months ended October 31, 2022 is presented below:
Restricted Stock UnitsNumber of SharesWeighted Average Grant Date Fair Value
Unvested balance outstanding, April 30, 2022929,928 $6.12 
Granted— — 
Forfeits(179,883)7.69 
Vested(189,693)10.79 
Expired— — 
Unvested balance outstanding, October 31, 2022560,352 $7.42 
___________________
1 Includes 123,448 RSUs that will be issued in the third quarter of fiscal year 2023.
Summary of Warrant Activity A summary of the Company’s warrant activity during the six months ended October 31, 2022 is presented below:
WarrantsNumber of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2022649,174 $4.70 1.96$— 
Granted— $— — — 
Exercised— $— — — 
Surrendered— $— — — 
Expired(224,174)$6.87 — — 
Balance Outstanding, October 31, 2022425,000 $3.56 3.27$— 
Unvested(16,667)
Exercisable, October 31, 2022408,333 $3.42 3.17$— 
Share-based Payment Arrangement, Option, Exercise Price Range
OUTSTANDING WARRANTSEXERCISABLE WARRANTS
Exercise
Price
Weighted
Average
Exercise
Price
Outstanding
Number of
Warrants
Weighted
Average
Exercise
Price
Weighted
Average
Remaining Life
In Years
Exercisable
Number of
Warrants
$1.00 1.00 200,000 $1.00 4.48200,000 
$4.89 $4.89 50,000 $4.89 1.4450,000 
$5.85 $5.85 50,000 $5.85 1.3550,000 
$6.00 $6.00 100,000 $6.00 3.84100,000 
$6.99 $6.99 25,000 $6.99 3.728,333 
 425,000   408,333 
OUTSTANDING OPTIONSEXERCISABLE OPTIONS
Exercise
Price
Weighted
Average
Exercise
Price
Outstanding
Number of
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining Life
In Years
Exercisable
Number of
Options
$3.24 to $4.38
$3.82 31,998 $4.00 1.7531,998 
$4.50 to $5.20
$4.94 123,379 $4.97 1.28123,379 
$7.17 to $7.55
$7.45 463,702 $7.46 0.83463,702 
$8.57 to $9.07
$8.98 114,749 $8.98 0.18114,749 
733,828 733,828 
Summary of Stock Option Activity A summary of the Company’s stock option activity for employees and directors during the six months ended October 31, 2022, is presented below:
OptionsNumber of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2022
860,182 $7.03 1.25$— 
Granted— — — — 
Exercised— — — — 
Forfeited(36,634)8.89 — — 
Expired(89,720)5.53 — — 
Balance Outstanding, October 31, 2022
733,828 $7.12 0.86$— 
Exercisable, October 31, 2022
733,828 $7.12 0.84$— 
Schedule of Share-Based Compensation
A summary of the Company’s stock-based compensation expense, which is included in "general and administrative" expense in the consolidated statement of operations is presented below:


Three Months Ended October 31,Six Months Ended October 31,
2022202120222021
RSUs$458,206 $688,129 $499,259 $1,134,906 
Restricted Stock— 10,525 — 21,052 
Stock options130 23,504 5,407 108,912 
Total stock-based compensation expense$458,336 $722,158 $504,666 $1,264,870