Stockholders' Equity (Tables)
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6 Months Ended |
Oct. 31, 2016 |
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| Schedule of Warrants Activity |
A summary of the Company’s warrant activity during the six months ended October 31, 2016 is presented below:
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Weighted
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Weighted
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Average
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Average
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Remaining
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Aggregate
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Number of
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Exercise
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Contractual
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Intrinsic
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Warrants
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Shares
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Price
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Term
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Value
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Balance Outstanding, April 30, 2016
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23,916,270
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$
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0.19
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—
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616,335
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Granted
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750,000
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0.20
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—
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37,500
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Exercised
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—
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—
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—
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—
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Forfeited
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(13,451,611
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)
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0.16
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—
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—
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Expired
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—
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—
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—
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—
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Balance Outstanding, October 31, 2016
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11,214,659
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$
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0.24
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2.0
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$
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653,835
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Exercisable, October 31, 2016
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11,214,659
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$
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0.24
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2.0
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$
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653,835
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| Stock Incentive Plan and Stock Option Grants to Employees and Directors [Member] |
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| Schedule of Assumptions Used In Valuing Stock Options |
The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the six months ended October 31, 2016 and 2015.
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October 31,
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2016
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Expected life (years)
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4-6.5
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Expected volatility
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40-43
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%
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Weighted-average volatility
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0.38
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%
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Risk-free interest rate
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0.00
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%
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Dividend yield
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n/a
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Expected forfeiture rate
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| Schedule of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the six months ended October 31, 2016, is presented below:
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Weighted
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Average
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Average
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Remaining
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Aggregate
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Number of
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Exercise
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Contractual
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Intrinsic
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Options
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Shares
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Price
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Term
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Value
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Balance Outstanding, April 30, 2016
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17,931,102
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$
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0.21
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3.3
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—
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Granted
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4,300,000
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$
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0.16
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4.9
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—
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Exercised
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—
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—
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—
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Forfeited
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(228,123
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$
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0.01
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1.4
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—
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Expired
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—
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—
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—
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—
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Balance Outstanding, October 31, 2016
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22,002,979
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$
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0.18
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3.16
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$
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1,557,341
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Exercisable, October 31, 2016
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9,839,872
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$
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0.21
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1.57
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$
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557,660
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| Stock Option Grants To Non Employees [Member] |
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| Schedule of Stock Option Activity |
A summary of the Company's stock option activity for non-employees during the six months ended October 31, 2016, is presented below:
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Weighted
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Average
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Average
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Remaining
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Aggregate
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Number of
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Exercise
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Contractual
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Intrinsic
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Options
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Shares
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Price
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Term
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Value
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Balance Outstanding, April 30, 2016
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195,000
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$
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0.28
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0.9
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$
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—
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Granted
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—
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—
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—
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—
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Exercised
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—
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—
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—
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—
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Forfeited
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—
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—
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—
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—
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Expired
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—
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—
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—
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—
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Balance Outstanding, October 31, 2016
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195,000
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$
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0.29
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0.43
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$
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4,500
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Exercisable, October 31, 2016
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195,000
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$
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0.29
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0.43
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$
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4,500
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