Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

3 Months Ended

Jul. 31, 2018

A summary of the Company’s outstanding stock options as of July 31, 2018 and changes during the period then ended are presented below:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance at April 30, 2018		1,531,458		$	1.79		4.43
Granted		—			—		—
Exercised		—			—		—
Forfeited		—			—		—
Cancelled		(50,000	)		1.47		—
Balance at July 31, 2018		1,481,458			1.80		4.17

Options exercisable at end of period		593,958		$	2.30
Options expected to vest		887,500		$	1.47
Weighted average fair value of options granted during the period				$	—

Schedule of Stock Warrant Activity

A summary of the Company’s outstanding stock warrants as of July 31, 2018 and changes during the period then ended are presented below:

	Number of Warrants		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)
Balance at April 30, 2018		1,702,359	$	3.12		3.25
Granted		—		—		—
Exercised		—		—		—
Forfeited		—		—		—
Cancelled		—		—		—
Balance at July 31, 2018		1,702,359	$	3.12		2.99

Warrants exercisable at end of period			1,702,359			$	3.12
Weighted average fair value of warrants granted during the period						$	—

- 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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