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Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Deficiency) (Tables)

v2.4.0.8
Stockholders' Equity (Deficiency) (Tables)
12 Months Ended
Apr. 30, 2014
Stockholders' Equity (Deficiency) [Abstract]  
Schedule of Assets Acquired and Liabilities Assumed

The assets acquired and liabilities assumed from the publicly-held company were as follows:


         

Cash and cash equivalents

 

$

337

 

Liabilities assumed

 

 

(21,206

)

Net

 

$

(20,869

)


Schedule of Warrants Activity

A summary of the Company's warrant activity during the year ended April 30, 2014 is presented below:


                                 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Warrants

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance Outstanding, April 30, 2013

 

 

9,090,292

 

 

$

0.46

 

 

 

 

 

 

 

Granted

 

 

18,325,553

 

 

 

0.26

 

 

 

 

 

 

 

Exercised

 

 

(4,231,840

)

 

 

0.19

 

 

 

 

 

 

 

Forfeited

 

 

(40,000

)

 

     

0.50

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, April 30, 2014

 

 

23,144,005

 

 

$

0.31

 

 

 

4.6

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, April 30, 2014

 

 

18,249,528

 

 

$

0.31

 

 

 

4.6

 

 

$

-

 


Stock Incentive Plan and Stock Option Grants to Employees and Directors [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
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 year ended April 30, 2014 the four months ended April 30, 2013, and during the year ended December 31, 2012:


                 

 

 

 

 

April 30,

 

April 30,

 

December 31,

Assumptions

 

 

 

2014

 

2013

 

2012

Expected life (years)

 

 

 

3.3

 

3.5 - 3.75

 

2.5 - 3.8

Expected volatility

 

 

 

45.0%

 

46.3%- 46.5%

 

44.2% - 50.9%

Weighted-average volatility

 

 

 

45.0%

 

46.5%

 

49.0%

Risk-free interest rate

 

 

 

0.38%

 

.36%-.44%

 

0.31% - 0.60%

Dividend yield

 

 

 

0.00%

 

0.00%

 

0.00%

Expected forfeiture rate

 

 

 

n/a

 

3.9%

 

1.7%


Schedule of Stock Option Activity

A summary of the Company's stock option activity for employees and directors during the year ended April 30, 2014 is presented below:


                                 

 

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance Outstanding, April 30, 2013

 

 

7,344,381

 

 

$

0.35

 

 

 

 

 

 

 

Granted

 

 

3,778,711

 

 

$

0.25

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

(646,680

)

 

$

0.35

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, April 30, 2014

 

 

10,476,412

 

 

$

0.35

 

 

 

4.0

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, April 30, 2014

 

 

2,050,332

 

 

$

0.35

 

 

 

3.8

 

 

$

-

 


Stock Option Grants to Non-Employees [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock Option Activity

A summary of the Company's stock option activity for non-employees during the year ended April 30, 2014 is presented below:


                                 

 

 

 

 

 

Weighted

 

 

Average

 

 

 

 

 

 

 

 

 

Average

 

 

Remaining

 

 

Aggregate

 

 

 

Number of

 

 

Exercise

 

 

Contractual

 

 

Intrinsic

 

Options

 

Shares

 

 

Price

 

 

Term

 

 

Value

 

Balance Outstanding, April 30, 2013

 

 

270,000

 

 

$

0.35

 

 

 

 

 

 

 

Granted

 

 

-

 

 

$

-

 

 

 

 

 

 

 

Exercised

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Forfeited

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

-

 

 

 

 

 

 

 

 

 

 

 

Balance Outstanding, April 30, 2014

 

 

270,000

 

 

$

0.35

 

 

 

4.0

 

 

$

-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, April 30, 2014

 

 

-

 

 

 

N/A

 

 

 

N/A

 

 

 

N/A