Stock-Based Compensation

12 Months Ended

Jul. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

4. STOCK-BASED COMPENSATION

The Company measures the cost of employee, officer and director services received in exchange for an award of equity instruments based on the grant-date fair value of the award. The fair value of the Company’s stock option awards is expensed over the vesting life of the underlying stock options using the graded vesting method, with each tranche of vesting options valued separately. The Company did not record any stock based compensation expense for the years ended July 31, 2018 and 2017.

In November 2010, the Board and Compensation Committee approved the Non-Invasive Monitoring Systems, Inc. 2011 Stock Incentive Plan (the “2011 Plan”). Awards granted under the 2011 Plan may consist of incentive stock options, stock appreciation rights (SAR), restricted stock grants, restricted stock units (RSU) performance shares, performance units or cash awards. The 2011 Plan authorizes up to 4,000,000 shares of our common stock for issuance pursuant to the terms of the 2011 Plan. The 2011 Plan was approved by our shareholders in March 2012 and no awards have been granted under the 2011 Plan as of July 31, 2018.

The Company did not grant any stock options for the years ended July 31, 2018 and 2017.

A summary of the Company’s stock option activity for the years ended July 31, 2018 and 2017 is as follows:

	Shares		Weighted Average Exercise Price		Weighted average remaining contractual term (years)		Aggregate Intrinsic Value
Options outstanding, July 31, 2016		200,000	$	0.430		.75		–
Options granted		–	$	0.000
Options exercised		–	$	0.000
Options expired		200,000	$	0.430		–		–
Options outstanding, July 31, 2017		–	$	0.000
Options granted		–	$	–
Options exercised		–	$	–
Options expired		–	$	–
Options outstanding, July 31, 2018		–	$	–		–	$	–
Options expected to vest, July 31, 2018		–	$	–		–	$	–
Options exercisable, July 31, 2018		–	$	–		–	$	–

As of July 31, 2018, there were no unrecognized costs related to outstanding stock options.