Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation (Tables)

v3.8.0.1
Stock-Based Compensation (Tables)
12 Months Ended
Jul. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Stock Option Activity

A summary of the Company’s stock option activity for the years ended July 31, 2017 and 2016 is as follows:

 

   

Option Shares

Outstanding

   

Weighted

-Average

Exercise Price

   

Average

Remaining

Contractual

Term

(Years)

   

Aggregate Intrinsic

Value ($000’s)

 
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       8.3       9  
Granted     3,028,536       1.41              
Exercised     (7,500 )     1.29             2  
Forfeited / Cancelled / Expired     (2,648,855 )     6.21              
Balance at July 31, 2017     3,635,641       1.94       7.923        
Exercisable at July 31, 2017     1,990,521     $ 2.29       7.269     $  

Schedule of Assumptions Used to Calculate Fair Value of Stock Based Compensation

The following assumptions were used for the Black-Scholes calculation of the fair value of stock-based compensation related to stock options granted during the periods presented:

 

   

Fiscal Year Ended

July 31, 2017

   

Fiscal Year Ended

July 31, 2016

 
Expected volatility     71.9% - 124.5 %     83.57% - 98.23 %
Risk-free interest rate     0.82% - 2.52 %     0.71% - 2.01 %
Expected forfeiture rate     0.00 %     0.00 %
Expected dividend yield            
Expected term     2.08 – 10 years       2.08 – 10 years  

Summary of Common Stock Reserved for Future Issuance

The following table summarizes all common stock reserved for future issuance at July 31, 2017:

 

Common Stock options outstanding (within the 2011 Plan and outside of the terms of the 2011 Plan)     3,635,641  
Common Stock reserved for restricted stock unit release     1,100,000  
Common Stock authorized for future grant under the 2011 Plan     526,637  
Common Stock reserved for warrant exercise     9,044,740  
Commons Stock reserved for future ESSP issuance     463,580  
Total common stock reserved for future issuance     14,770,598