Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.21.2
STOCK-BASED COMPENSATION (Tables)
3 Months Ended
Jul. 31, 2021
Share-based Payment Arrangement [Abstract]  
A summary of stock option activity for the three months period from May 1, 2021 to July 31, 2021, is presented below:

A summary of stock option activity for the three months period from May 1, 2021 to July 31, 2021, is presented below: 

 

            Outstanding Options  
                              Weighted          
                      Weighted       Average          
      Shares               Average       Remaining       Aggregate  
      Available for       Number of       Exercise       Contractual       Intrinsic  
      Grant       Options       Price       Life (years)       Value  
Balance at April 30, 2021     10,450,000       19,550,000     $ 0.7195       5.92     $ 35,159,500  
Options granted     (1,500,000 )     1,500,000     $ 2.9167                  
Options exercised     -       (250,000 )   $ 0.0004                  
Options cancelled/forfeited     300,000       (300,000 )   $ 1.5000                  
Balance at July 31, 2021     9,250,000       20,500,000     $ 0.8812       6.03     $ 72,647,100  
Options vested and expected to vest at April 30, 2021             18,500     $ 0.8684       6.52     $ 65,797,100  
Options exercisable at April 30, 2021             13,460,519     $ 0.5298       5.84     $ 52,431,944  
The estimated fair value of stock options granted to employees and consultants during the three months ended July 31, 2021 and July 31, 2020, were calculated using the Black-Scholes option-pricing model using the following assumptions

The estimated fair value of stock options granted to employees and consultants during the three months ended July 31, 2021 and July 31, 2020, were calculated using the Black-Scholes option-pricing model using the following assumptions:

 

 

    For the Three Months Ended July 31,
    2021   2020
Expected term (in years)   2.50 - 5.00   2.50 - 6.25
Volatility   86.31%   65.80% -72.35%
Risk-free interest rate   1.01% -1.07%   1.52% -2.36%
Dividend yield   0.0%   0.0%
The Company’s results of operations include expenses relating to stock-based compensation as follows

The Company’s results of operations include expenses relating to stock-based compensation as follows:

 

 

    For the Three Months Ended July 31,  
    2021     2020  
 Research and development   $ 141,917     $ 21,813  
 General and administrative     597,705       569,620  
 Total   $ 739,622     $ 591,433