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Share-Based Compensation (Tables)

9 Months Ended

Jan. 31, 2021

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following assumptions were used to value the awards:

		Three months ended January 31,								Nine months ended January 31,
		2021				2020				2021				2020
Risk-free interest rate			0.6	%			1.7	%			0.6	%			1.7	%
Expected dividend yield			0.0	%			0.0	%			0.0	%			0.0	%
Expected life (in years)			5.5 - 5.7				5.5 - 5.7				5.5 - 5.7				5.5 - 5.7
Expected volatility			136.5	%			127.6% - 128.2	%			136.5	%			127.6% - 128.2	%

Schedule of Stock Option Activity

A summary of stock options under our stock incentive plans is detailed in the following table.

										Weighted
										Average
						Weighted				Remaining
		Shares				Average				Contractual
		Underlying				Exercise				Term
		Options				Price				(In Years)
Outstanding as of April 30, 2020			474,128			$	3.56				9.4
Granted			248,876			$	2.93
Exercised			(175,500	)		$	1.05
Cancelled/forfeited			(28,719	)		$	6.29
Outstanding as of January 31, 2021			518,785			$	3.96				9.2
Exercisable as of January 31, 2021			249,577			$	5.21				8.5

Schedule of Non-vested Restricted Stock Activity

A summary of non-vested restricted stock under our stock incentive plans is as follows:

						Weighted
		Number				Average Price per
		of Shares				Share
Issued and unvested at April 30, 2020			13,513			$	1.48
Granted			10,000			$	2.93
Vested			(13,513	)		$	1.48
Cancelled/forfeited			-			$	-
Issued and unvested at January 31, 2021			10,000			$	2.93

Performance Stock Options [Member]

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The Company determined these awards contain a market- based condition and estimated the fair value using the Monte Carlo simulation model with the following assumptions:

		Three months ended January 31,								Nine months ended January 31,
		2021				2020				2021				2020
Risk-free interest rate			1.2	%			2.3	%			1.2	%			2.3	%
Expected dividend yield			0.0	%			0.0	%			0.0	%			0.0	%
Expected life (in years)			10.0				10.0				10.0				10.0
Expected volatility			76.0%- 136.5	%			115.0	%			76.0%- 136.5	%			115.0	%

Schedule of Stock Option Activity

A summary of performance stock options under our stock incentive plans is detailed in the following table.

										Weighted
										Average
						Weighted				Remaining
		Shares				Average				Contractual
		Underlying				Exercise				Term
		Options				Price				(In Years)
Outstanding as of April 30, 2020			81,347			$	1.05				9.7
Granted			344,723			$	2.93
Exercised			-			$	-
Cancelled/forfeited			-			$	-
Outstanding as of January 31, 2021			426,070			$	2.57				9.8
Exercisable as of January 31, 2021			40,681			$	1.05				9.0

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