Stockholders' Equity (Tables)
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6 Months Ended |
Oct. 31, 2022 |
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| Stockholders' Equity Note [Abstract] |
Ìý
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| 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 OctoberÌý31, 2022 is presented below:
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| Restricted Stock Units |
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Number of Shares |
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Weighted Average Grant Date Fair Value |
| Unvested balance outstanding, April 30, 2022 |
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929,928Ìý |
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$ |
6.12Ìý |
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| Granted |
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—Ìý |
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—Ìý |
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| Forfeits |
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(179,883) |
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|
7.69Ìý |
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| Vested |
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(189,693) |
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1 |
0.79Ìý |
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| Expired |
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—Ìý |
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—Ìý |
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| Unvested balance outstanding, October 31, 2022 |
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560,352Ìý |
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$ |
7.42Ìý |
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___________________
1 Includes 123,448 RSUs that will be issued in the third quarter of fiscal year 2023.
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| Summary of Warrant Activity |
A summary of the Company’s warrant activity during the six months ended OctoberÌý31, 2022 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, 2022 |
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649,174Ìý |
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$ |
4.70Ìý |
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1.96 |
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$ |
—Ìý |
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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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—Ìý |
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$ |
—Ìý |
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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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(224,174) |
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$ |
6.87Ìý |
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—Ìý |
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—Ìý |
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| Balance Outstanding, October 31, 2022 |
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425,000Ìý |
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$ |
3.56Ìý |
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3.27 |
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$ |
—Ìý |
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| Unvested |
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(16,667) |
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| Exercisable, October 31, 2022 |
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408,333Ìý |
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$ |
3.42Ìý |
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3.17 |
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$ |
—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
Number 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
Number of
Warrants |
| $ |
1.00Ìý |
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1.00Ìý |
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200,000Ìý |
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$ |
1.00Ìý |
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4.48 |
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200,000Ìý |
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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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1.44 |
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50,000Ìý |
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| $ |
5.85Ìý |
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$ |
5.85Ìý |
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50,000Ìý |
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$ |
5.85Ìý |
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1.35 |
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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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3.84 |
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100,000Ìý |
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| $ |
6.99Ìý |
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$ |
6.99Ìý |
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25,000Ìý |
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$ |
6.99Ìý |
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3.72 |
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8,333Ìý |
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| Ìý |
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425,000Ìý |
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Ìý |
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Ìý |
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408,333Ìý |
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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
Number 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
Number of
Options |
$3.24 to $4.38 |
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$ |
3.82Ìý |
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31,998Ìý |
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$ |
4.00Ìý |
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1.75 |
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31,998Ìý |
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$4.50 to $5.20 |
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$ |
4.94Ìý |
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123,379Ìý |
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$ |
4.97Ìý |
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1.28 |
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123,379Ìý |
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$7.17 to $7.55 |
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$ |
7.45Ìý |
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463,702Ìý |
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$ |
7.46Ìý |
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0.83 |
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463,702Ìý |
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$8.57 to $9.07 |
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$ |
8.98Ìý |
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114,749Ìý |
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$ |
8.98Ìý |
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0.18 |
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114,749Ìý |
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733,828Ìý |
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733,828Ìý |
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| Summary of Stock Option Activity |
A summary of the Company’s stock option activity for employees and directors during the six months ended OctoberÌý31, 2022, is presented below:
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| Options |
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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, AprilÌý30, 2022 |
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860,182Ìý |
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$ |
7.03Ìý |
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1.25 |
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$ |
—Ìý |
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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 |
|
—Ìý |
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|
—Ìý |
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|
—Ìý |
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|
—Ìý |
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| Forfeited |
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(36,634) |
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8.89Ìý |
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—Ìý |
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—Ìý |
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| Expired |
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(89,720) |
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|
5.53Ìý |
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—Ìý |
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—Ìý |
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Balance Outstanding, OctoberÌý31, 2022 |
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733,828Ìý |
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$ |
7.12Ìý |
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0.86 |
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$ |
—Ìý |
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Exercisable, OctoberÌý31, 2022 |
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733,828Ìý |
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$ |
7.12Ìý |
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0.84 |
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$ |
—Ìý |
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| 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:
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Three Months Ended October 31, |
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Six Months Ended October 31, |
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2022 |
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2021 |
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2022 |
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2021 |
| RSUs |
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$ |
458,206Ìý |
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$ |
688,129Ìý |
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$ |
499,259Ìý |
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$ |
1,134,906Ìý |
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| Restricted Stock |
|
—Ìý |
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10,525Ìý |
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—Ìý |
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21,052Ìý |
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| Stock options |
|
130Ìý |
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23,504Ìý |
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5,407Ìý |
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108,912Ìý |
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| Total stock-based compensation expense |
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$ |
458,336Ìý |
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$ |
722,158Ìý |
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$ |
504,666Ìý |
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$ |
1,264,870Ìý |
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