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Share-Based Payments | 3 Months Ended
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Jul. 31, 2021
Share-based Payment Arrangement [Abstract] |
Share-Based Payments | Share-Based Payments The Company has in place a 2010 Equity Incentive Plan and a 2008 Equity Incentive Plan. The Company also has in place a 2021 Equity Incentive Plan, subject to shareholder approval at its next shareholder meeting. In general, these plans provide for stock-based compensation in the form of (i) Non-statutory Stock Options; (ii) Restricted Stock Awards; and (iii) Stock Appreciation Rights to the Company’s employees, directors and non-employees. The plans also provide for limits on the aggregate number of shares that may be granted, the term of grants and the strike price of option awards. Stock-based compensation expense was recognized as follows (table in thousands):
| Three Months Ended July 31, |  |  |  |
| 2021 |  | 2020 |  |  |  |  |  |  |  |
General and administrative | $ | 171 |  |  | $ | 47 |  |  |  |  |  |  |  |  |
Sales and marketing | 51 |  |  | 48 |  |  |  |  |  |  |  |  |
Research and development | 6 |  |  | 4 |  |  |  |  |  |  |  |  |
Cost of oncology services | 52 |  |  | 21 |  |  |  |  |  |  |  |  |
Total stock-based compensation expense | $ | 280 |  |  | $ | 120 |  |  |  |  |  |  |  |  |
Stock Option Grants Black-Scholes assumptions used to calculate the fair value of options granted during the three months ended July 31, 2021 and 2020 were as follows:
| Three Months Ended July 31, |  |  |  |
| 2021 |  | 2020 |  |  |  |  |  |  |  |
Expected term in years | 6 |  | 6 |  |  |  |  |  |  |  |
Risk-free interest rates | 0.82% |  | 0.39% |  |  |  |  |  |  |  |
Volatility | 65.94%-66.21% |  | 72.64% |  |  |  |  |  |  |  |
Dividend yield | —% |  | —% |  |  |  |  |  |  |  |
The weighted average fair value of stock options granted during the three months ended July 31, 2021 and 2020 was $5.33 and $9.85, respectively. The Company’s stock options activity for the three months ended July 31, 2021 was a s follows:
| Directors and Employees | Non- Employees |  |  | Total |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Life (Years) |  | Aggregate Intrinsic Value
Outstanding, April 30, 2021 | 1,618,231 |  | 35,415 |  |  |  | 1,653,646 |  |  | $ | 3.96 |  |  | 5.4 |  | $ | 11,384,000 |
Granted | 82,532 |  | 3,000 |  |  |  | 85,532 |  |  | 9.01 |  |  | 9.90 |  |
Exercised | (1,000) |  | — |  |  |  | (1,000) |  |  | 2.10 |  |  |  |  |
Forfeited | (3,750) |  | — |  |  |  | (3,750) |  |  | 10.64 |  |  |  |  |
Canceled | — |  | — |  |  |  | — |  |  | — |  |  |  |  |
Expired | — |  | — |  |  |  | — |  |  | — |  |  |  |  |
Outstanding, July 31, 2021 | 1,696,013 |  | 38,415 |  |  |  | 1,734,428 |  |  | 4.19 |  |  | 5.4 |  | $ | 11,063,000 |
Vested and expected to vest as of July 31, 2021 | 1,696,013 |  | 38,415 |  |  |  | 1,734,428 |  |  | 4.19 |  |  | 5.4 |  | $ | 11,063,000 |
Exercisable as of July 31, 2021 | 1,353,752 |  | 9,584 |  |  |  | 1,363,336 |  |  | 3.50 |  |  | 4.6 |  | $ | 9,666,000 |

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- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 + Details
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