Share-Based Payments

6 Months Ended

Oct. 31, 2022

Share-Based Payment Arrangement [Abstract]

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


	Three Months Ended October 31,				Six Months Ended October 31,
	2022		2021		2022		2021
General and administrative	$	23	$	48	$	146	$	219
Sales and marketing	49		45		97		96
Research and development	4		8		7		14
Cost of oncology services	43		33		75		85
Total stock-based compensation expense	$	119	$	134	$	325	$	414

The Company has in place a 2021 Equity Incentive Plan and 2010 Equity Incentive Plan ("the Plans"). In general, these plans provide for stock-based compensation to the Company’s employees, directors and non-employees. The plans also provide for limits on the aggregate number of shares that may be granted, the term of grants and the strike price of option awards.

2021 Equity Incentive Plan

As part of the 2021 Annual Shareholders Meeting, shareholders approved the adoption of the 2021 Equity Incentive Plan (“2021 Equity Plan”). The purpose of the 2021 Equity Plan is to grant (i) Non-statutory Stock Options; (ii) Incentive Stock Options; (iii) Restricted Stock Awards; and/or (iv) Stock Appreciation Rights (collectively, stock-based compensation) to its employees, directors and non-employees. Total stock awards under the 2021 Equity Plan shall not exceed 2 million shares of common stock. Options and Stock Appreciation Rights expire no later than ten years from the date of grant and the awards vest as determined by the Board of Directors. Options and Stock Appreciation Rights have a strike price not less than 100% of the fair market value of the common stock subject to the option or right at the date of grant. As of October 31, 2022, approximately 1.7 million shares were left to issue under this plan.

2010 Equity Incentive Plan

On February 18, 2011, shareholders owning a majority of the issued and outstanding shares of the Company executed a written consent approving the 2010 Equity Incentive Plan (“2010 Equity Plan”). The purpose of the 2010 Equity Plan is to grant (i) Non-statutory Stock Options; (ii) Restricted Stock Awards; and (iii) Stock Appreciation Rights (collectively, stock-based compensation) to its employees, directors and non-employees. Total stock awards under the 2010 Equity Plan shall not exceed 30 million shares of common stock. Options and Stock Appreciation Rights expire no later than ten years from the date of grant and the awards vest as determined by the Board of Directors. Options and Stock Appreciation Rights have a strike price not less

than 100% of the fair market value of the common stock subject to the option or right at the date of grant. After February 2021, no more shares were available to be issued from this plan.

Stock Option Grants

There were no options granted during the three months ended October 31, 2022 and 2021. Black-Scholes assumptions used to calculate the fair value of options granted during the six months ended October 31, 2022 and 2021 were as follows:


	Six Months Ended October 31,
		2022	2021
Expected term in years		6	6
Risk-free interest rates		2.87%	0.82%
Volatility		62.58%	65.94%-66.21%
Dividend yield		—%	—%

The weighted average fair value of stock options granted during the six months ended October 31, 2022 and 2021 was $4.50 and $5.33, respectively.

The Company’s stock options activity for the six months ended October 31, 2022 was as follows:


	Directors and Employees	Non- Employees	Total	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Outstanding, April 30, 2022	1,617,324	40,915	1,658,239	$	4.51	4.9	$	6,131,000
Granted	80,500	—	80,500	7.57		9.7
Exercised	(36,209)	—	(36,209)	3.21
Forfeited	(9,125)	—	(9,125)	7.94
Canceled	(13,374)	—	(13,374)	3.74
Expired	—	(4,584)	(4,584)	5.40

Outstanding, October 31, 2022	1,639,116	36,331	1,675,447	4.67		4.8	$	4,989,000

Vested and expected to vest as of October 31, 2022	1,639,116	36,331	1,675,447	4.67		4.8	$	4,989,000

Exercisable as of October 31, 2022	1,363,447	—	1,363,447	4.18		4.1	$	4,788,000