Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.5.0.2
Stock-Based Compensation (Tables)
12 Months Ended
Jul. 31, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Assumptions Used to Calculate Fair Value of Stock Based Compensation

The following assumptions were used to calculate the fair value of stock-based compensation related to stock options during the years ended:

 

    July 31, 2016     July 31, 2015  
Expected volatility     83.57% - 98.23 %     86.02% - 117.50 %
Risk-free interest rate     0.71% - 2.01     0.36% - 2.13
Expected forfeiture rate     0.00 %     0.00 %
Expected dividend yield            
Expected term     2.08 – 10 years       1.6 – 6.5 years  

Summary of Stock Option Activity

A summary of the Company’s stock option activity for the years ended July 31, 2016 and 2015 is as follows:

 

    Option Shares
Outstanding
    Weighted-Average
Exercise Price
    Aggregate Intrinsic
Value ($000’s)
 
Balance at July 31, 2014 (1)     588,045     $ 11.20     $ 844  
Granted (1)     608,501       7.45       1  
Exercised (1)     (308 )     5.60       1  
Forfeited / Cancelled / Expired (1)     (47,474 )     12.29       46  
Balance at July 31, 2015     1,148,764     $ 9.20     $ 216  
Granted     2,729,250       4.84        
Exercised                  
Forfeited / Cancelled / Expired     (614,554 )     7.49       33  
Balance at July 31, 2016     3,263,460       5.88       9  
Exercisable at July 31, 2016     1,824,862     $ 6.60     $ 3  

 

 

(1) Recast to reflect the 1-for-20 reverse stock split effected May 2015

Schedule of Stock Option Activity by Range of Exercise Price

Range of Exercise Prices     Number of
Shares
Outstanding
    Weighted
Average
Contractual Life
(in years)
    Number
Of Shares
Exercisable
    Weighted
Average
Remaining
Contractual
Life (in years)
 
$ 1.64 - $16.10 (1)       3,263,460       8.6       1,824,862       8.3  

Summary of Common Stock Reserved For Future Issuance

The following table summarizes common stock reserved for future issuance at July 31, 2016:

 

Common Stock options outstanding (within the 2011 Plan and outside of the terms of the 2011 Plan)     3,263,460  
Common Stock reserved for restricted stock unit release     655,000  
Common Stock authorized for future grant under the 2011 Plan     330,408  
Common Stock reserved for warrant exercise     12,859,286  
Commons Stock reserved for future ESSP issuance     482,211  
Total common stock reserved for future issuance     17,590,365