Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.20.4
Stockholders' Equity (Tables)
9 Months Ended
Jan. 31, 2021
Equity [Abstract]  
Schedule of Stock Option Activity

The following is a summary of the Company’s stock option activity during the periods ended January 31, 2021 and April 30, 2020:

 

    Number of
Options
    Weighted
Average
Exercise
Price
    Weighted
Average
Remaining
Contractual
Life
(Years)
 
Balance at April 30, 2020     100,000     $ 14.31       2.87  
Granted                  
Exercised                  
Forfeited                  
Cancelled     (5,000 )            
Balance at January 31, 2021     95,000       14.63       1.81  
                         
Options exercisable at end of period     93,750     $ 14.65          
Options expected to vest     1,250     $ 13.40          
Weighted average fair value of options granted during the period           $ -          
Schedule of Stock Warrant Activity

A summary of the Company’s outstanding warrants to purchase shares of common stock as of January 31, 2021 and changes during the nine months ended are presented below:

 

    Number of
Warrants
    Weighted Average
Exercise
Price
    Weighted Average
Remaining
Contractual
Life (Years)
 
Warrants with no Class designation:                        
Balance at April 30, 2020     527,378     $ 14.83       3.73  
Granted     921,666       6.00       5.00  
Exercised     (178,571 )     7.00       4.16  
Forfeited                  
Canceled                  
Balance at January 31, 2021     1,270,473       9.52       3.94  
Class A Warrants:                        
Balance at April 30, 2020     219,375       11.40       4.22  
Granted                  
Exercised     (109,688 )     11.40       3.47  
Forfeited                  
Canceled                  
Balance at January 31, 2021     109,687       11.40       3.47  
Total Warrants Outstanding at January 31, 2021     1,380,160     $ 9.67       3.90  
Warrants exercisable at end of period     1,380,160     $ 9.67          
Weighted average fair value of warrants granted during the period           $ 9.09          
Schedule of Fair Value Assumptions of Warrants

The fair value of the warrants was $5,530,004, as measured on the date of the issuance with a Black-Scholes pricing model using the assumptions noted in the following table:

 

    Warrants Issued
During the Nine
Months Ended
January 31, 2021
 
Expected volatility     169.0 %
Stock price on date of grant   $ 9.53  
Exercise price   $ 6.00  
Expected dividends     -  
Expected term (in years)     5.00  
Risk-free rate     0.27 %
Expected forfeiture rate     0 %