Share-Based Payments (Tables)

3 Months Ended

Jul. 31, 2016

Stock-based compensation expense was recognized as follows (table in thousands):



	Three Months Ended July 31,
	2016		2015
General and administrative	$	830	$	438
Sales and marketing	168		120
Research and development	85		167
TOS cost of sales	44		24
POS cost of sales	2		26
Total stock-based compensation expense	$	1,129	$	775

Black-Scholes assumptions used to calculate the fair value of options granted during the three months ended July 31, 2016 and 2015 were as follows:

The Company’s stock options activity for the three months ended July 31, 2016 was as follows:



	Non- Employees	Directors and Employees		Total		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding, May 1, 2016	51,250	2,161,507		2,212,757		$	5.58	6.1	$	10,000
Granted	—	1,762,327		1,762,327		2.10		7.0	—
Exercised	—	—		—		—
Forfeited	—	(7,813	)	(7,813	)	9.85
Canceled	—	(1,793,781	)	(1,793,781	)	4.92
Expired	—	(18,542	)	(18,542	)	10.64

Outstanding, July 31, 2016	51,250	2,103,698		2,154,948		3.22		6.3	$	—

Vested and expected to vest as of July 31, 2016	51,250	2,103,698		2,154,948		3.22		6.3	$	—

Exercisable as of July 31, 2016	34,586	1,739,483		1,774,069		3.35		6.0	$	—

Activity related to these warrants, which expire at various dates through January 2019, is summarized as follows:



	Number of Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding, May 1, 2016	2,109,840	$	5.54	3.6	$	—
Granted	—	—		—	—
Exercised	—	—		—	—
Expired	—	—		—	—

Outstanding, July 31, 2016	2,109,840	$	5.54	3.4	$	—