91르적 Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

9 Months Ended

Jan. 31, 2018

Stockholders' Equity Note [Abstract]

A summary of the Company’s warrant activity during the nine months ended January 31, 2017 is presented below:


						Weighted
				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
Warrants	Shares			Price		Term		Value
Balance outstanding, April 30, 2017		914,123		$	2.82		1.6	$	1,100,203
Granted		224,174			6.87		5.0		307,118
Exercised		(356,267	)		0.55		—		—
Forfeited		—			—		—		—
Expired		(38,257	)		—		—		—
Balance outstanding, January 31, 2018		743,773		$	4.08		2.1	$	3,095,502

Exercisable, January 31, 2018		743,773		$	4.08		2.1	$	3,095,502

Schedule of Assumptions Used In Valuing Stock Options

The following table summarizes the assumptions the Company utilized to record compensation expense for stock options granted to employees during the nine months ended January 31, 2018.


	January 31,
	2018
Expected life (years)		4-6.5
Expected volatility		40-43	%
Risk-free interest rate		0.00	%
Dividend yield		n/a

Schedule of Stock Option Activity

A summary of the Company’s stock option activity for employees and directors during the nine months ended January 31, 2018, is presented below:


				Weighted		Average
				Average		Remaining		Aggregate
	Number of			Exercise		Contractual		Intrinsic
Options	Shares			Price		Term		Value
Balance outstanding, April 30, 2017		2,097,384		$	1.86		2.7	$	12,489,871
Granted		844,000		$	3.53		3.4		1,867,740
Exercised		(63,838	)	$	3.13		—		—
Forfeited		—			—		—		—
Expired		—			—		—		—
Balance outstanding, January 31, 2018		2,877,546		$	3.52		3.24	$	17,658,268

Exercisable, January 31, 2018		1,083,484		$	2.22		2.07	$	8,727,757