Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.21.2
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Oct. 31, 2021
Share-based Payment Arrangement [Abstract]  
A summary of stock option activity for the six months ended October 31, 2021, is presented below:

A summary of stock option activity for the six months ended October 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     (1,750,000 )     1,750,000     $ 2.9167                  
Options exercised     -       (2,000,000 )   $ 0.0004                  
Options cancelled/forfeited     300,000       (300,000 )   $ 1.5000                  
Balance at October 31, 2021     9,000,000       19,000,000     $ 0.9826       5.97     $ 23,458,300  
Options vested and expected to vest at April 30, 2021             18,500     $ 0.9806       6.53     $ 21,178,300  
Options exercisable at April 30, 2021             13,460,519     $ 0.6729       5.88     $ 18,423,196  
The estimated fair value of stock options granted to employees and consultants during the six months ended October 31, 2021 and 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 six months ended October 31, 2021 and 2020, were calculated using the Black-Scholes option-pricing model using the following assumptions:

 

 

    For the Six Months Ended October 31,
    2021   2020
Expected term (in years)   2.505.00   6.25
Volatility   86.31%   100.10%
Risk-free interest rate   1.01% – 1.07%   0.51%
Dividend yield   0.0%   0.0%
The Company’s results of operations include expenses relating to stock-based compensation for three and six months ended October 31, 2021 and 2020, was comprised as follows:

The Company’s results of operations include expenses relating to stock-based compensation for three and six months ended October 31, 2021 and 2020, was comprised as follows:

 

    For the Three Months Ended October 31,     For the Six Months Ended October 31,  
    2021     2020     2021     2020  
 Research and development   $ 111,267     $ 21,813     $ 253,184     $ 43,626  
 General and administrative     1,169,117       547,124       1,766,822       1,116,744  
 Total   $ 1,280,384     $ 568,937     $ 2,020,006     $ 1,160,370