Quarterly report pursuant to Section 13 or 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
9 Months Ended
Apr. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Assumptions Used to Calculate Fair Value of Stock Based Compensation

The fair values of the Company’s options were estimated at the dates of grant using a Black-Scholes option pricing model with the following weighted average assumptions:

 

Expected term (years)     5.00 – 6.50  
Risk-free interest rate     1.66 – 2.81 %
Volatility     73.3 – 92.0 %
Dividend yield     0 %

Summary of Stock Option Activity

The following is a summary of the 2011 Plan and non-Plan option activity:

 

          Weighted  
          Average  
          Exercise  
    Options     Price  
Outstanding - July 31, 2017     3,639,613     $ 1.94  
Exercisable - July 31, 2017     1,990,521     $ 2.29  
Granted     5,614,000     $ 1.37  
Exercised     (180,393 )   $ 1.25  
Forfeited/Cancelled     (584,650 )   $ 3.00  
Outstanding – April 30, 2018     8,488,570     $ 1.50  
Exercisable – April 30, 2018     4,161,589     $ 1.59