Quarterly report pursuant to Section 13 or 15(d)

COMMON STOCK TRANSACTIONS

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COMMON STOCK TRANSACTIONS
6 Months Ended
Oct. 31, 2023
Equity [Abstract]  
COMMON STOCK TRANSACTIONS

NOTE 4 – COMMON STOCK TRANSACTIONS

 

A summary of the Company’s compensatory stock activity and related weighted average grant date fair value information for the three and six months ended October 31, 2023 and 2022 is as follows:

 

In January 2022, the Company awarded 4,400 shares of common stock to the executive officers of the Company as part of their compensation agreements for 2022. During the six months ended October 31, 2023 and 2022, the Company recorded a non-cash compensation expense in the amount of $0 and $3,917, respectively. There were zero and 6,667 unvested shares as of October 31, 2023 and 2022, respectively. Two of the executive officers terminated their services in October 2022 and pursuant to their separation agreements the shares were fully vested.

   

During the six months ended October 31, 2022, three non-employee members of the Board were issued 1,002 shares of common stock pursuant to their Director Letter Agreements (“DLAs”) in respect of their service during that year. The shares were fully vested upon issuance. The Company recorded a non-cash expense of $0 and $0 for the three months ended October 31, 2023 and 2022, respectively, and $0 and $2,278 for the six months ended October 31, 2023 and 2022, respectively. There were zero unvested shares remaining related to such DLAs as of October 31, 2023 and 2022, respectively.

 

All shares were issued without registration under the Securities Act of 1933 as amended (“Securities Act”) in reliance upon the exemption afforded by Section 4(a)(2) of the Securities Act.

 

There were no shares granted, vested or expired during the six months ended October 31, 2023.