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Stockholders' Equity (Tables)
 6 Months Ended
Oct. 31, 2019
Summary of Warrant Activity
A summary of the Company’s warrant activity during the six months ended October 31, 2019 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, October 31, 2019566,223  $6.22  3.66$154,820  
Exercisable, October 31, 2019516,223  $6.35  3.59$86,820  
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
$1.99  600,115  $1.99  1.18600,115  
$2.28 to $2.76
$2.31  392,780  $2.29  0.87400,486  
$3.24 to $4.38
$3.90  358,388  $3.93  2.00235,904  
$4.50 to $5.20
$4.93  711,459  $4.90  2.53336,611  
$5.95 to $6.28
$6.07  80,417  $6.13  2.6836,806  
$7.17 to $7.55
$7.39  660,972  $7.39  3.73220,324  
$8.57 to $9.07
$8.98  217,000  $8.98  3.4472,333  
Options only3,021,131  1,902,579  
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.
October 31,
2019		April 30,
2019
Expected life (years)3.53.5
Expected volatility46.0 %50.1 %
Risk-free interest rate1.67 %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 six months ended October 31, 2019, 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  
Granted89,000  4.03  —  —  
Exercised(453,660) 2.20  —  —  
Forfeited(22,363) 5.92  —  —  
Expired—  —  —  —  
Balance Outstanding, October 31, 2019
3,021,131  $4.57  2.90$6,880,644  
Exercisable, October 31, 2019
1,902,579  $3.78  1.86$7,545,471  
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  4.70—  
$5.85  $5.85  92,049  $5.85  4.2792,049  
$6.00  $6.00  200,000  $6.00  4.60200,000  
$6.87  $6.87  224,174  $6.87  2.99224,174  
   566,223        516,223