Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

12 Months Ended

Apr. 30, 2018

Schedule of Weighted-average Black-Scholes Assumptions

The Company used the Black-Scholes model to determine the fair value of stock options granted during the year ended April 30, 2018 and 2017. In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:

	For the Year Ended April 30, 2018			For the Year Ended April 30, 2017
Risk free interest rate		2.26 – 2.81	%		1.39	%
Dividend yield		0.00	%		0.00	%
Expected volatility		93.47 – 100	%		112	%
Contractual term		4.65 – 5.0			5.0
Forfeiture rate		0.00	%		0.00	%

Schedule of Stock Option Activity

The following is a summary of the Company’s stock option activity during the years ended April 30, 2018 and 2017:

	Number of Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance at April 30, 2016		—	$	—		—
Granted		231,458		3.60		5.00
Exercised		—		—		—
Forfeited		—		—		—
Cancelled		—		—		—
Balance at April 30, 2017 (see Note 4)		231,458		3.60		4.08
Granted		1,300,000		1.47		5.00
Exercised		—		—		—
Forfeited		—		—		—
Cancelled		—		—		—
Balance at April 30, 2018		1,531,458		1.79		4.43

Options exercisable at end of period		584,314	$	2.28
Options expected to vest		947,144	$	1.49
Weighted average fair value of options granted during the period			$	0.94

Schedule of Stock Warrant Activity

The following is a summary of the Company’s warrant activity during the years ended April 30, 2018 and 2017:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance at April 30, 2016		—		$	—		—
Granted		452,359			2.64		5.00
Exercised		—			—		—
Forfeited		—			—		—
Cancelled		—			—		—
Balance at April 30, 2017 (see Note 4)		452,359			2.64		4.29
Recapitalization on May 23, 2017		33,415			32.61		0.77
Granted		1,250,000			3.30		3.50
Exercised		—			—		—
Forfeited		—			—		—
Cancelled/Expired		(33,415	)		32.61		—
Balance at April 30, 2018		1,702,359			3.12		3.25

Warrants exercisable at end of period		1,702,359		$	3.12
Warrants expected to vest		-		$	-
Weighted average fair value of warrants granted during the period				$	1.24

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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