Stockholders' Equity (Tables)
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6 Months Ended |
Oct. 31, 2020 |
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| Schedule of Restricted Stock Unit Activity |
A summary of the Company’s RSU activity which were granted under the 2012 and 2018 Equity Incentive Plans during the six months ended October 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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169,043Ìý |
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|
9.33Ìý |
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| Exercised |
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—Ìý |
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—Ìý |
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| Forfeits |
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(4,250) |
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|
7.49Ìý |
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| Vested |
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(138,168) |
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12.83Ìý |
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| Expired |
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—Ìý |
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—Ìý |
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| Unvested Balance Outstanding, October 31,2020 |
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669,800Ìý |
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$ |
6.16Ìý |
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| Summary of Warrant Activity |
A summary of the Company’s warrant activity during the six months ended OctoberÌý31, 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 |
|
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, October 31, 2020 |
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374,174Ìý |
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$ |
6.37Ìý |
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2.39 |
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$ |
1,125,177Ìý |
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| Exercisable, October 31, 2020 |
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374,174Ìý |
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$ |
6.37Ìý |
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2.39 |
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$ |
1,125,177Ìý |
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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 |
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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3.44 |
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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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3.35 |
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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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1.73 |
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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 |
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 $2.10 |
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$ |
1.86Ìý |
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35,141Ìý |
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$ |
1.86Ìý |
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0.44 |
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35,141Ìý |
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$2.28 to $2.76 |
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$ |
2.34Ìý |
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96,573Ìý |
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$ |
2.34Ìý |
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0.25 |
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96,573Ìý |
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$3.24 to $4.38 |
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$ |
3.90Ìý |
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262,658Ìý |
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$ |
3.87Ìý |
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0.95 |
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220,657Ìý |
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$4.50 to $5.20 |
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$ |
4.93Ìý |
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650,808Ìý |
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$ |
4.91Ìý |
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1.75 |
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540,896Ìý |
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$5.95 to $6.28 |
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$ |
6.10Ìý |
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67,000Ìý |
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$ |
6.10Ìý |
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1.72 |
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67,000Ìý |
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$7.17 to $7.55 |
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$ |
7.45Ìý |
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474,425Ìý |
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$ |
7.43Ìý |
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2.87 |
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329,175Ìý |
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$8.57 to $9.07 |
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$ |
8.98Ìý |
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157,749Ìý |
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$ |
9.00Ìý |
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2.18 |
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149,888Ìý |
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| Options only |
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1,744,354Ìý |
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1,439,330Ìý |
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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 period ended:
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October 31,
2020 |
| Expected life (years) |
n/a |
| Expected volatility |
n/a |
| Risk-free interest rate |
n/a |
| Dividend yield |
n/a |
| Expected forfeiture rate |
n/a |
|
| Summary of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the six months ended OctoberÌý31, 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 |
|
2,740,539Ìý |
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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 |
|
(989,767) |
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$ |
10.78Ìý |
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|
—Ìý |
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|
—Ìý |
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| Forfeited |
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(6,418) |
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$ |
6.51Ìý |
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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, OctoberÌý31, 2020 |
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1,744,354Ìý |
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$ |
5.66Ìý |
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|
1.99 |
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$ |
6,482,286Ìý |
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Exercisable, OctoberÌý31, 2020 |
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1,439,330Ìý |
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$ |
5.66Ìý |
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|
1.79 |
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$ |
5,495,787Ìý |
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