Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

12 Months Ended

Apr. 30, 2019

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, 2019 and 2018. In applying the Black-Scholes option pricing model to options granted, the Company used the following assumptions:

	For the Year Ended April 30, 2019		For the Year Ended April 30, 2018
Risk free interest rate		-		2.26 – 2.81	%
Dividend yield		-		0.00	%
Expected volatility		-		93.47 – 100	%
Contractual term		-		4.65 – 5.0
Forfeiture rate		-		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, 2019 and 2018:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance at April 30, 2017		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
Granted		—			—		—
Exercised		—			—		—
Forfeited		(75,000	)		1.48		—
Cancelled		—			—		—
Balance at April 30, 2019		1,456,458			1.80		3.29

Options exercisable at end of period		956,458		$	1.98
Options expected to vest		500,000		$	1.46
Weighted average fair value of options granted during the period				$	—

Schedule of Stock Warrant Activity

The following is a summary of the Company’s warrant activity during the years ended April 30, 2019 and 2018:

	Number of Warrants			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance at April 30, 2017		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		(33,415	)		32.61		—
Balance at April 30, 2018		1,702,359			3.12		3.25
Granted		—			—		—
Exercised		—			—		—
Forfeited		—			—		—
Cancelled/Expired		—			—		—
Balance at April 30, 2019		1,702,359			3.12		2.25

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				$	-