Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

v3.22.0.1
STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Jan. 31, 2022
Share-based Payment Arrangement [Abstract]  
A summary of stock option activity for the nine months ended January 31, 2022, is presented below:

A summary of stock option activity for the nine months ended January 31, 2022, 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     $ 2.9171                  
Options exercised     -       (3,000,000 )   $ 0.0004                  
Options cancelled/forfeited     300,000       (300,000 )   $ 1.5000                  
Balance at January 31, 2022     9,000,000       18,000,000     $ 0.9826       6.00     $ 13,118,800  
Options vested and expected to vest at January 31, 2022             16,000,000     $ 1.0418       6.41     $ 1 0,529,200  
Options exercisable at January 31, 2022             13,460,519     $ 0.7891       5.87     $ 9,806,358  
The estimated fair value of stock options granted to employees and consultants during the nine months ended January 31, 2022 and 2021, 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 nine months ended January 31, 2022 and 2021, were calculated using the Black-Scholes option-pricing model using the following assumptions:

 

    For the Nine Months Ended January 31,
    2022   2021
Expected term (in years)   3.506.25   6.25
Volatility   85.53% - 87.10%   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 the three and nine months ended January 31, 2022 and 2021, was comprised as follows:

The Company’s results of operations include expenses relating to stock-based compensation for the three and nine months ended January 31, 2022 and 2021, was comprised as follows:

 

    For the Three Months Ended
January 31,
    For the Nine Months Ended
January 31,
 
    2022     2021     2022     2021  
 Research and development   $ 106,102     $ 21,813     $ 359,286     $ 65,439  
 General and administrative     1,024,693       553,314       2,791,515       1,670,058  
 Total   $ 1,130,795     $ 575,127     $ 3,150,801     $ 1,735,497