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Note 17 – Share Based Awards | 3 Months Ended
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Jul. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Note 17 – Share Based Awards | Note 17 – Share Based Awards The 2019 Equity Incentive Plan (the "Plan") allows us to incentivize key employees, consultants, and directors with long term compensation awards such as stock options, restricted stock, and restricted stock units (collectively, the "Awards"). The number of shares issuable in connection with Awards under the Plan may not exceed 8,750,000. Options The table below sets forth the range of assumptions used to calculate the fair value of options granted during the three months ended July 31:
|  |  | 2022 |  |  |  | 2021 |
Exercise Price |  |  | — |  |  |  | $ 2.41 – 2.60 |
Stock price on date of grant |  |  | — |  |  |  | 2.41 – 2.60 |
Risk-free interest rate |  |  | — |  |  |  | 0.47 – 1.57% |
Dividend yield |  |  | — |  |  |  | — |
Expected term (years) |  |  | — |  |  |  | 3.75 – 10.00 |
Volatility |  |  | — |  |  |  | 210.68 – 214.17% |
A summary of options activity under the Plan since April 30, 2021 is as follows:
Options |  | Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of April 30, 2021 |  |  | 2,197,475 |  |  | $ | 1.79 |  |  |  | 8.68 |  |  |  | 4,943,870 |
Granted |  |  | 1,681,000 |  |  |  | 2.58 |  |  |  |  |  |  |  |  |
Exercised |  |  | (150,000 | ) |  |  | 2.49 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (34,333 | ) |  |  | 2.11 |  |  |  |  |  |  |  |  |
Outstanding as of April 30, 2022 |  |  | 3,694,142 |  |  |  | 2.17 |  |  |  | 8.56 |  |  |  | 1,407,545 |
Granted |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (60,000 | ) |  |  | 2.55 |  |  |  |  |  |  |  |  |
Outstanding as of July 31, 2022 |  |  | 3,634,142 |  |  |  | 2.16 |  |  |  | 8.31 |  |  |  | 1,608,791 |
Exercisable as of July 31, 2022 |  |  | 2,312,975 |  |  | $ | 1.89 |  |  |  | 7.68 |  |  | $ | 1,334,291 |
The aggregate intrinsic value of outstanding options represents the excess of the stock price at the indicated date over the exercise price of each option. As of July 31, 2022 and July 31, 2021, there was $2,760,989 and $1,592,188 of unrecognized stock-based compensation expense related to unvested stock options which is expected to be recognized over the weighted average periods of 2.10 and 1.61 years, respectively. Restricted Stock A summary of restricted stock activity under the plan since April 30, 2021 is as follows:
Restricted Stock |  | Shares |  | Weighted Average Grant-Date Fair Value Per Share
Unvested and outstanding as of April 30, 2021 |  |  | 687,500 |  |  | $ | 2.69 |
Granted |  |  | 995,659 |  |  |  | 2.55 |
Vested |  |  | (599,484 | ) |  |  | 2.64 |
Forfeited |  |  | — |  |  |  | — |
Unvested and outstanding as of April 30, 2022 |  |  | 1,083,675 |  |  |  | 2.59 |
Granted |  |  | — |  |  |  | — |
Vested |  |  | (111,974 | ) |  |  | 2.57 |
Forfeited |  |  | — |  |  |  | — |
Unvested and outstanding as of July 31, 2022 |  |  | 971,701 |  |  | $ | 2.59 |
Stock Compensation Stock compensation expense for the three months ended July 31 was as follows:
|  | 2022 |  | 2021
General and administrative |  | $ | 345,168 |  |  | $ | 219,601 |
Research and development |  |  | 144,798 |  |  |  | 56,480 |
Operations |  |  | 158,431 |  |  |  | 63,261 |
Sales and marketing |  |  | 107,074 |  |  |  | 44,744 |
Total |  | $ | 755,471 |  |  | $ | 384,086 |
Stock compensation expense pertaining to options totaled $458,023 and $187,494 for the three months ended July 31, 2022 and 2021, respectively. Stock compensation expense pertaining to restricted stock units totaled $297,448 and $196,592 for the three months ended July 31, 2022 and 2021, respectively.

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