XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.24.1

Note 18 – Share Based Awards | 9 Months Ended
--- | ---
Jan. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Note 18 – Share Based Awards | Note 18 – 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 11,750,000.
| A. | Options
The range of assumptions used to calculate the fair value of options granted during the nine months ended January 31 was:
|  |  | 2024 |  |  |  | 2023 |
Exercise Price |  | $ | 0.95 – 1.12 |  |  | $ | 1.06 – 2.38 |
Stock price on date of grant |  |  | 0.95 – 1.12 |  |  |  | 1.06 – 2.38 |
Risk-free interest rate |  |  | 3.47 – 4.34% |  |  |  | 3.34 – 7.52% |
Dividend yield |  |  | — |  |  |  | — |
Expected term (years) |  |  | 6.00 – 8.25 |  |  |  | 8.25 |
Volatility |  |  | 242.38 – 260.22% |  |  |  | 253.52 – 513.58%% |
A summary of options activity under the Plan since April 30, 2022 was:
|  | Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value
Outstanding as of April 30, 2022 |  |  | 3,694,142 |  |  | $ | 2.17 |  |  |  | 8.56 |  |  |  | 1,407,545 |
Granted |  |  | 1,503,500 |  |  |  | 1.40 |  |  |  |  |  |  |  |  |
Exercised |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (412,833 | ) |  |  | 2.67 |  |  |  |  |  |  |  |  |
Outstanding as of April 30, 2023 |  |  | 4,784,809 |  |  |  | 1.88 |  |  |  | 8.72 |  |  |  | 74,586 |
Granted |  |  | 2,541,042 |  |  |  | 1.06 |  |  |  |  |  |  |  |  |
Exercised |  |  | (3,000 | ) |  |  | 0.89 |  |  |  |  |  |  |  |  |
Forfeited or expired |  |  | (643,751 | ) |  |  | 2.43 |  |  |  |  |  |  |  |  |
Outstanding as of January 31, 2024 |  |  | 6,679,100 |  |  |  | 1.53 |  |  |  | 7.86 |  |  |  | — |
Exercisable as of January 31, 2024 |  |  | 3,575,496 |  |  | $ | 1.86 |  |  |  | 6.31 |  |  | $ | — |
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 January 31, 2024 and January 31, 2023, there was $1,767,088 and $3,052,603 of unrecognized stock-based compensation expense related to unvested stock options which is expected to be recognized over the weighted average periods of 1.99 and 2.22 years, respectively.
| B. | Restricted Stock
A summary of restricted stock activity under the Plan since April 30, 2022 was:
|  | Shares |  | Weighted Average Grant-Date Fair Value Per Share
Unvested and outstanding as of April 30, 2022 |  |  | 1,083,675 |  |  | $ | 2.59 |
Granted |  |  | 780,884 |  |  |  | 2.14 |
Vested |  |  | (1,062,372 | ) |  |  | 2.42 |
Forfeited |  |  | (21,127 | ) |  |  | 2.13 |
Unvested and outstanding as of April 30, 2023 |  |  | 781,060 |  |  |  | 2.44 |
Granted |  |  | 298,643 |  |  |  | 1.06 |
Vested |  |  | (355,661 | ) |  |  | 1.94 |
Forfeited |  |  | (70,656 | ) |  |  | 1.25 |
Unvested and outstanding as of January 31, 2024 |  |  | 653,386 |  |  | $ | 2.14 |
| C. | Stock Compensation
Stock compensation expense by functional operating expense was:
|  | Three months ended January 31, |  | Nine months ended January 31,
|  | 2024 |  | 2023 |  | 2024 |  | 2023
Operations |  | $ | 114,425 |  |  | $ | 181,908 |  |  | $ | 544,046 |  |  | $ | 566,218 |
Research and development |  |  | (106,314 | ) |  |  | 170,579 |  |  |  | 168,732 |  |  |  | 524,874 |
Sales and marketing |  |  | 120,180 |  |  |  | 120,733 |  |  |  | 494,392 |  |  |  | 390,076 |
General and administrative |  |  | 457,480 |  |  |  | 315,471 |  |  |  | 1,486,532 |  |  |  | 1,309,790 |
Total |  | $ | 585,771 |  |  | $ | 788,691 |  |  | $ | 2,693,702 |  |  | $ | 2,790,958 |
Stock compensation expense pertaining to options totaled $1,955,547 and $1,308,768 for the nine months ended January 31, 2024 and 2023, respectively. Stock compensation expense pertaining to restricted stock units totaled $738,155 and $1,482,190 for the nine months ended January 31, 2024 and 2023, respectively.

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration