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Common Stock, Preferred Stock and Warrants (Tables)

6 Months Ended

Oct. 31, 2020

Stockholders' Equity Note [Abstract]

Assumptions used to estimate fair value of warrants

		October 31, 2020
Expected volatility			89-95	%
Expected dividends			0	%
Expected term			4.92-5 Years
Risk-free interest rate			0.27-0.29	%

Changes in warrants outstanding issued to non-employees of the Company

			Number of Warrants				Weighted Average Exercise Price				Weighted Average Grant Date Fair Value				Expiration Date (yrs)				Value if Exercised
Balance as of April 30, 2020				—				—				—				—			$	—
Granted				399,998				1.50				0.67				5.00				599,997
Exercised				—				—				—				—				—
Cancelled/Expired				—				—				—				—				—
Outstanding as of October 31, 2020				399,998			$	1.50			$	0.67				4.92			$	599,997

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- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (k)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

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- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section S99
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775

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