Stockholders' Equity (Tables)
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3 Months Ended |
Jul. 31, 2020 |
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| Schedule of Restricted Stock Unit Activity |
A summary of the Company’s Restricted Stock Unit activity which were granted under the 2012 and 2018 equity incentive plans during the three months ended July 31, 2020 is presented below:
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| Restricted Stock Units |
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Number of Shares |
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Weighted Average Grant Price |
| Unvested Balance Outstanding, April 30,2020 |
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643,175Ìý
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$ |
5.64Ìý
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| Granted |
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158,793Ìý
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9.12Ìý
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| Exercised |
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—Ìý
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—Ìý
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| Forfeits |
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(500) |
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6.09Ìý
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| Vested |
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—Ìý
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—Ìý
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| Expired |
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—Ìý
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—Ìý
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| Unvested Balance Outstanding, July 31,2020 |
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801,468Ìý
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$ |
6.33Ìý
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| Summary of Warrant Activity |
A summary of the Company’s warrant activity during the three months ended JulyÌý31, 2020 is presented below:
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| Warrants |
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Number of
Shares |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining
Contractual
Term |
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Aggregate
Intrinsic
Value |
| Balance Outstanding, April 30, 2020 |
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566,223Ìý
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$ |
6.22Ìý
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3.17 |
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$ |
950,100Ìý
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| Granted |
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—Ìý
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$ |
—Ìý
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—Ìý
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—Ìý
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| Exercised |
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(192,049) |
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$ |
5.60Ìý
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—Ìý
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—Ìý
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| Surrendered |
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—Ìý
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$ |
—Ìý
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—Ìý
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—Ìý
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| Expired |
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—Ìý
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$ |
—Ìý
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—Ìý
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—Ìý
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| Balance Outstanding, July 31, 2020 |
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374,174Ìý
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$ |
6.37Ìý
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2.64 |
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$ |
908,156Ìý
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| Exercisable, July 31, 2020 |
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374,174Ìý
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$ |
6.37Ìý
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2.64 |
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$ |
908,156Ìý
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| Warrant |
Ìý
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| Share-based Payment Arrangement, Option, Exercise Price Range |
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| OUTSTANDING WARRANTS |
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EXERCISABLE WARRANTS |
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Exercise
Price |
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Weighted
Average
Exercise
Price |
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Outstanding
No. of
Warrants |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining Life
In Years |
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Exercisable
No. of
Warrants |
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| $ |
4.89Ìý
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$ |
4.89Ìý
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50,000Ìý
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$ |
4.89Ìý
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3.70 |
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50,000Ìý
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| $ |
6.00Ìý
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$ |
6.00Ìý
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100,000Ìý
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$ |
6.00Ìý
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3.60 |
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100,000Ìý
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| $ |
6.87Ìý
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$ |
6.87Ìý
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224,174Ìý
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$ |
6.87Ìý
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1.98 |
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224,174Ìý
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| Ìý |
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374,174Ìý
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Ìý |
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Ìý |
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374,174Ìý
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| Stock Incentive Plan and Stock Option Grants to Employees and Directors |
Ìý
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| Share-based Payment Arrangement, Option, Exercise Price Range |
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| OUTSTANDING OPTIONS |
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EXERCISABLE OPTIONS |
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Exercise
Price |
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Weighted
Average
Exercise
Price |
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Outstanding
No. of
Options |
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Weighted
Average
Exercise
Price |
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Weighted
Average
Remaining Life
In Years |
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Exercisable
No. of
Options |
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$1.57 to $2.10 |
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$ |
2.02Ìý
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306,166Ìý
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$ |
2.02Ìý
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0.56 |
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261,771Ìý
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$2.28 to $2.76 |
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$ |
2.30Ìý
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307,779Ìý
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$ |
2.30Ìý
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0.27 |
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307,779Ìý
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$3.24 to $4.38 |
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$ |
3.90Ìý
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318,174Ìý
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$ |
3.87Ìý
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1.32 |
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262,507Ìý
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$4.50 to $5.20 |
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$ |
4.93Ìý
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665,195Ìý
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$ |
4.91Ìý
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1.98 |
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536,597Ìý
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$5.95 to $6.28 |
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$ |
6.08Ìý
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75,751Ìý
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$ |
6.11Ìý
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1.96 |
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61,195Ìý
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$7.17 to $7.55 |
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$ |
7.44Ìý
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481,639Ìý
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$ |
7.41Ìý
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3.16 |
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342,056Ìý
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$8.57 to $9.07 |
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$ |
8.98Ìý
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159,332Ìý
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$ |
8.98Ìý
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2.44 |
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112,888Ìý
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| Options only |
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2,314,036Ìý
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1,884,793Ìý
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| 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 three months ended April 30, 2020. There were no options granted to employees during the three months ended July 31, 2020.
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July 31,
2020 |
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April 30,
2020 |
| Expected life (years) |
n/a |
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3.5 |
| Expected volatility |
n/a |
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57.0Ìý
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% |
| Risk-free interest rate |
n/a |
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0.24Ìý
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% |
| Dividend yield |
n/a |
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0.00Ìý
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% |
| Expected forfeiture rate |
n/a |
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n/a |
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| Summary of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the three months ended JulyÌý31, 2020, is presented below:
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| Options |
|
Number of
Shares |
|
Weighted
Average
Exercise
Price |
|
Weighted
Average
Remaining
Contractual
Term |
|
Aggregate
Intrinsic
Value |
| Balance Outstanding, April 30, 2020 |
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2,732,899Ìý
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$ |
4.62Ìý
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1.97 |
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$ |
9,146,198Ìý
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| Granted |
|
—Ìý
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—Ìý
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|
—Ìý
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|
—Ìý
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| Exercised |
|
(415,175) |
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|
9.18Ìý
|
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|
—Ìý
|
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|
—Ìý
|
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| Forfeited |
|
(3,688) |
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|
6.94Ìý
|
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|
—Ìý
|
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—Ìý
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| Expired |
|
—Ìý
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—Ìý
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—Ìý
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—Ìý
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Balance Outstanding, JulyÌý31, 2020 |
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2,314,036Ìý
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$ |
4.89Ìý
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1.89 |
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$ |
9,073,489Ìý
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Exercisable, JulyÌý31, 2020 |
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1,884,793Ìý
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$ |
4.68Ìý
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1.65 |
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$ |
7,797,166Ìý
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