Quarterly report pursuant to Section 13 or 15(d)

7. STOCK OPTIONS AND WARRANTS (Tables)

v3.8.0.1
7. STOCK OPTIONS AND WARRANTS (Tables)
9 Months Ended
Jan. 31, 2018
Employee stock option activity
    Nine Months Ended January 31,  
    2018     2017  
Risk-free interest rate     2.5%       1.8%  
Expected volatility     106%       110%  
Expected lives (years)     4.3       5.0  
Expected dividend yield     0.00%       0.00%  
Unvested employee stock option activity
    Options     Weighted
Average
Exercise Price
    Weighted
Average
Grant Date
Fair Value
per Share
 
                   
Outstanding, April 30, 2017     79,100,000     $ 0.13     $ 0.09  
Issued     16,150,000       0.06       0.06  
Forfeited                  
Exercised                  
Outstanding, January 31, 2018     95,250,000     $ 0.11     $ 0.11  
Exercisable, January 31, 2018     84,500,000     $ 0.12     $  
Vested and expected to vest     95,250,000     $ 0.11     $  
Range of outstanding stock options
Exercise Price     Number of Options Outstanding     Weighted Average Remaining Contractual Life (years) of Outstanding Options     Weighted Average Exercisable Price     Number of Options Exercisable     Weighted Average Exercise Price of Exercisable Options  
$ 0.19       25,000,000       0.83     $ 0.19       25,000,000     $ 0.19  
$ 0.11       27,200,000       1.01     $ 0.11       27,200,000     $ 0.11  
$ 0.18       250,000       1.11     $ 0.18       250,000     $ 0.18  
$ 0.06       15,600,000       1.75     $ 0.06       15,600,000     $ 0.06  
$ 0.10       10,450,000       2.63     $ 0.10       10,350,000     $ 0.10  
$ 0.07       600,000       3.25     $ 0.07       600,000     $ 0.07  
$ 0.06       1,250,000       2.21     $ 0.06       1,250,000     $ 0.06  
$ 0.06       1,200,000       4.42     $ 0.06       700,000     $ 0.06  
$ 0.07       1,200,000       4.25     $ 0.07       900,000     $ 0.07  
$ 0.07       1,800,000       4.44     $ 0.07       700,000     $ 0.07  
$ 0.09       1,200,000       2.23     $ 0.09       700,000     $ 0.09  
$ 0.06       500,000       2.35     $ 0.06       500,000     $ 0.06  
$ 0.06       9,000,000       2.95     $ 0.06       750,000     $ 0.06  
Total       95,250,000       1.68     $ 0.11       84,500,000     $ 0.12  
Warrant activity
Exercise Price     Number of
Options Outstanding
    Weighted
Average
Remaining
Contractual Life
(years) of
Outstanding
Options
    Weighted
Average
Exercisable
Price
    Number of
Options Exercisable
    Weighted
Average
Exercise Price
of Exercisable
Options
 
$ 0.19       25,000,000       0.83     $ 0.19       25,000,000     $0.19  
$ 0.11       27,200,000       1.01     $ 0.11       27,200,000     $0.11  
$ 0.18       250,000       1.11     $ 0.18       250,000     $0.18  
$ 0.06       15,600,000       1.75     $ 0.06       15,600,000     $0.06  
$ 0.10       10,450,000       2.63     $ 0.10       10,350,000     $0.10  
$ 0.07       600,000       3.25     $ 0.07       600,000     $0.07  
$ 0.06       1,250,000       2.21     $ 0.06       1,250,000     $0.06  
$ 0.06       1,200,000       4.42     $ 0.06       700,000     $0.06  
$ 0.07       1,200,000       4.25     $ 0.07       900,000     $0.07  
$ 0.07       1,800,000       4.44     $ 0.07       700,000     $0.07  
$ 0.09       1,200,000       2.23     $ 0.09       700,000     $0.09  
$ 0.06       500,000       2.35     $ 0.06       500,000     $0.06  
$ 0.06       9,000,000       2.95     $ 0.06       750,000     $0.06  
Total       95,250,000       1.68     $ 0.11       84,500,000     $0.12  
Schedule of warrants outstanding and exercisable
Exercise Prices   Number of
Warrant Shares
Exercisable at January 31, 2018
    Weighted
Average
Remaining
Contractual
Life
    Weighted
Average
Exercise Price
 
$0.025, $0.03, $0.0575, $0.065, $0.11, $0.12 and $0.18     48,850,197       1.93     $ 0.12  
                         
Five Year Term   –   $0.12     25,841,188       2.03          
Five Year Term   –   $0.18     8,536,880       0.15          
Five Year Term   –   $0.11     10,000,000       2.14          
Five Year Term   –   $0.065     769,231       3.92          
Five Year Term   –   $0.0575     869,565       4.18          
Five Year Term   –   $0.03     833,333       4.31          
Five Year Term   –   $0.025     2,000,000       4.44          
      48,850,197                  
Employee Options [Member]  
Assumptions
    Nine Months Ended January 31,  
    2018     2017  
Risk-free interest rate     2.0%        
Expected volatility     107%        
Expected lives (years)     2.8        
Expected dividend yield     0.00%        
Non-Employee Options [Member]  
Assumptions
    Nine Months Ended January 31,  
    2018     2017  
Risk-free interest rate     2.5%       1.8%  
Expected volatility     106%       110%  
Expected lives (years)     4.3       5.0  
Expected dividend yield     0.00%       0.00%