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Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.2
Stockholders' Equity (Tables)
3 Months Ended
Jul. 31, 2020
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:
Restricted Stock Units Number of Shares Weighted Average Grant Price
Unvested Balance Outstanding, April 30,2020 643,175Ìý $ 5.64Ìý
Granted 158,793Ìý 9.12Ìý
Exercised —Ìý —Ìý
Forfeits (500) 6.09Ìý
Vested —Ìý —Ìý
Expired —Ìý —Ìý
Unvested Balance Outstanding, July 31,2020 801,468Ìý $ 6.33Ìý
Summary of Warrant Activity
A summary of the Company’s warrant activity during the three months ended JulyÌý31, 2020 is presented below:
Warrants Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2020 566,223Ìý $ 6.22Ìý 3.17 $ 950,100Ìý
Granted —Ìý $ —Ìý —Ìý —Ìý
Exercised (192,049) $ 5.60Ìý —Ìý —Ìý
Surrendered —Ìý $ —Ìý —Ìý —Ìý
Expired —Ìý $ —Ìý —Ìý —Ìý
Balance Outstanding, July 31, 2020 374,174Ìý $ 6.37Ìý 2.64 $ 908,156Ìý
Exercisable, July 31, 2020 374,174Ìý $ 6.37Ìý 2.64 $ 908,156Ìý
Warrant Ìý
Share-based Payment Arrangement, Option, Exercise Price Range
OUTSTANDING WARRANTS EXERCISABLE WARRANTS
Exercise
Price
Weighted
Average
Exercise
Price
Outstanding
No. of
Warrants
Weighted
Average
Exercise
Price
Weighted
Average
Remaining Life
In Years
Exercisable
No. of
Warrants
$ 4.89Ìý $ 4.89Ìý 50,000Ìý $ 4.89Ìý 3.70 50,000Ìý
$ 6.00Ìý $ 6.00Ìý 100,000Ìý $ 6.00Ìý 3.60 100,000Ìý
$ 6.87Ìý $ 6.87Ìý 224,174Ìý $ 6.87Ìý 1.98 224,174Ìý
Ìý 374,174Ìý Ìý Ìý 374,174Ìý
Stock Incentive Plan and Stock Option Grants to Employees and Directors Ìý
Share-based Payment Arrangement, Option, Exercise Price Range
OUTSTANDING OPTIONS EXERCISABLE OPTIONS
Exercise
Price
Weighted
Average
Exercise
Price
Outstanding
No. of
Options
Weighted
Average
Exercise
Price
Weighted
Average
Remaining Life
In Years
Exercisable
No. of
Options
$1.57 to $2.10
$ 2.02Ìý 306,166Ìý $ 2.02Ìý 0.56 261,771Ìý
$2.28 to $2.76
$ 2.30Ìý 307,779Ìý $ 2.30Ìý 0.27 307,779Ìý
$3.24 to $4.38
$ 3.90Ìý 318,174Ìý $ 3.87Ìý 1.32 262,507Ìý
$4.50 to $5.20
$ 4.93Ìý 665,195Ìý $ 4.91Ìý 1.98 536,597Ìý
$5.95 to $6.28
$ 6.08Ìý 75,751Ìý $ 6.11Ìý 1.96 61,195Ìý
$7.17 to $7.55
$ 7.44Ìý 481,639Ìý $ 7.41Ìý 3.16 342,056Ìý
$8.57 to $9.07
$ 8.98Ìý 159,332Ìý $ 8.98Ìý 2.44 112,888Ìý
Options only 2,314,036Ìý 1,884,793Ìý
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.
July 31,
2020
April 30,
2020
Expected life (years) n/a 3.5
Expected volatility n/a 57.0Ìý %
Risk-free interest rate n/a 0.24Ìý %
Dividend yield n/a 0.00Ìý %
Expected forfeiture rate n/a n/a
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:
Options Number of
Shares
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
Balance Outstanding, April 30, 2020 2,732,899Ìý $ 4.62Ìý 1.97 $ 9,146,198Ìý
Granted —Ìý —Ìý —Ìý —Ìý
Exercised (415,175) 9.18Ìý —Ìý —Ìý
Forfeited (3,688) 6.94Ìý —Ìý —Ìý
Expired —Ìý —Ìý —Ìý —Ìý
Balance Outstanding, JulyÌý31, 2020
2,314,036Ìý $ 4.89Ìý 1.89 $ 9,073,489Ìý
Exercisable, JulyÌý31, 2020
1,884,793Ìý $ 4.68Ìý 1.65 $ 7,797,166Ìý