Annual report pursuant to Section 13 and 15(d)

6. STOCK OPTIONS AND WARRANTS (Tables)

v3.21.2
6. STOCK OPTIONS AND WARRANTS (Tables)
 12 Months Ended
Apr. 30, 2021
Employee stock option activity
    Options     Weighted
Average
Exercise Price		     Weighted
Average
Grant Date
Fair Value
per Share		  
                   
Outstanding, April 30, 2019     71,634     $ 160.91     $ 157.85  
Issued     8,133       60.09       60.09  
Forfeited     (34,967 )     225.73       216.74  
Exercised     –       –       –  
Outstanding, April 30, 2020     44,800       94.36       94.15  
Issued     7,333       13.90       13.90  
Forfeited     (10,800 )     94.81       93.90  
Exercised     –       –       –  
Outstanding, April 30, 2021     41,333     $ 79.97     $ 79.97  
Exercisable, April 30, 2021     37,333     $ 87.46     $ –  
Vested and expected to vest     41,333     $ 79.97     $ –  
Unvested employee stock option activity
    Options     Weighted
Average
Grant Date
Fair Value
per Share		  
             
Unvested, April 30, 2019     4,133     $ –  
Granted     8,133       60.09  
Vested     (8,133 )     –  
Forfeited     –       –  
Unvested, April 30, 2020     4,133       –  
Granted     7,334       13.90  
Vested     (7,467 )     –  
Forfeited     –       –  
Unvested, April 30, 2021     4,000     $ 10.05  
Range of outstanding stock options

The following table summarizes the outstanding stock options by exercise price at April 30, 2021:

 

Exercise Price     Number of
Options
Outstanding		     Weighted
Average
Remaining
Contractual Life
(years) of
Outstanding
Options		     Weighted
Average
Exercisable
Price Per Share		     Number of
Options
Exercisable		     Weighted Average
Exercise Price
of Exercisable
Options		  
$ 156.00       6,967       0.55     $ 156.00       6,967     $ 156.00  
$ 87.00       1,634       0.88     $ 87.00       1,634     $ 87.00  
$ 110.10       800       1.00     $ 110.10       800     $ 110.10  
$ 109.35       1,200       1.19     $ 109.35       1,200     $ 109.35  
$ 133.50       800       1.22     $ 133.50       800     $ 133.50  
$ 82.95       333       0.72     $ 82.95       333     $ 82.95  
$ 83.70       6,000       1.00     $ 83.70       6,000     $ 83.70  
$ 80.10       800       2.35     $ 80.10       800     $ 80.10  
$ 80.85       667       1.00     $ 80.85       667     $ 80.85  
$ 102.45       333       1.08     $ 102.45       333     $ 102.45  
$ 97.35       333       1.22     $ 97.35       333     $ 97.35  
$ 74.25       6,000       1.73     $ 74.25       6,000     $ 74.25  
$ 57.00       800       3.40     $ 57.00       800     $ 57.00  
$ 60.60       667       1.50     $ 60.60       667     $ 60.60  
$ 55.50       333       1.59     $ 55.50       333     $ 55.50  
$ 51.00       333       1.72     $ 51.00       333     $ 51.00  
$ 61.20       6,000       2.21     $ 61.20       6,000     $ 61.20  
$ 36.00       667       2.00     $ 36.00       667     $ 36.00  
$ 37.05       333       2.09     $ 37.05       333     $ 37.05  
$ 15.75       333       2.22     $ 15.70       333     $ 15.70  
$ 10.05       6,000       2.80     $ 10.05       2,000     $ 10.05  
  Total       41,333       1.58     $ 79.97       37,333     $ 87.46  
Warrant activity

A summary of the Company’s warrant activity and related information for the two years ended April 30, 2021 are shown below:

 

    Warrants     Weighted
Average
Exercise Price Per Share		  
Outstanding, April 30, 2019     28,052     $ 135  
Issued     11,111       –  
Expired     (7,236 )     –  
Outstanding, April 30, 2020     31,927       75  
Issued     22,911       –  
Exercised     (40,524 )     –  
Expired     (11,333 )     –  
Outstanding, April 30, 2021     2,981       –  
Exercisable, April 30, 2021     2,981     $ 59  
Schedule of warrants outstanding and exercisable

The following table summarizes additional information concerning warrants outstanding and exercisable at April 30, 2021:

 

Exercise Prices   Number of
Warrant Shares
Exercisable at
April 30, 2021		     Weighted
Average
Remaining
Contractual
Life Years		     Weighted
Average
Exercise Price Per Share		  
                   
$97.50     513       0.64          
$86.25     580       0.93          
$37.50     1,333       1.24          
$45.00     555       1.07          
      2,981       1.04     $ 59  
Employee Options [Member]  
Assumptions

The fair value of the Employee Options at the date of grant was estimated using the Black-Scholes-Merton option-pricing model, based on the following weighted average assumptions:

 

    Years Ended April 30,  
    2021     2020  
Risk-free interest rate     0.4%       1.8%  
Expected volatility     97%       91%  
Expected lives (years)     2.7       2.7  
Expected dividend yield     0.00%       0.00%  
Non-Employee Options [Member]  
Assumptions

The fair value of the Non-Employee Options was estimated using the Black-Scholes-Merton option-pricing model, based on the following weighted average assumptions:

 

    Years Ended April 30,  
    2021     2020  
Risk-free interest rate     –       1.6%  
Expected volatility     –       90%  
Expected lives (years)     –       5.0  
Expected dividend yield     –       0.00%