Where option awards are granted based on service periods, they generally vest quarterly based on 3 years continuous service for executive directors and employees, or 12 months continuous service for directors and have contractual terms.

At January 31, 2023, the Company did not have an ERISA stock awards plan. So, all stock options issued to date were Plan options and do not have any of the tax and other benefits afforded to ERISA stock option awards. In March 2023, the Company’s board of directors adopted, subject to shareholder approval, the 2023 Equity Incentive Plan (the “Equity Incentive Plan”) and, unless earlier terminated, will continue for a term of ten years. The maximum aggregate number of shares that may be issued under the Equity Incentive Plan is 2,500,000 shares of Common Stock plus (ii) any shares of Common Stock subject to options that expire or otherwise terminate without having been exercised in full, are tendered to or withheld by the Company for payment of an exercise price or for tax withholding obligations, or are forfeited to or repurchased by the Company due to failure to vest, with the maximum number of shares to be added to the Equity Incentive Plan under this clause (ii) equal to 832,195 shares of Common Stock. The number of shares of Common Stock available for issuance under the Equity Incentive Plan will be subject to automatic increase on the first day of each fiscal year (commencing with our fiscal year beginning May 1, 2024), so that the number of shares available for issuance under the Equity Incentive Plan is equal to the least of: (A) twenty-five percent (25%) of the total number of shares of all classes of Common Stock and Preferred Stock as converted to Common Stock outstanding on the last day of the immediately preceding fiscal year, and (B) a lesser number of shares determined by the Administrator (as defined in the Equity Incentive Plan). As of March 16, 2023, there have been no awards issued under the Equity Incentive Plan.

		Number of Options Outstanding				Weighted Average Exercise Price				Average Remaining Contractual Life (in years)
Outstanding—April 30, 2022			254,215			$	11.79				4.6
Options forfeited			(2,273	)			1.16				—
Outstanding— January 31, 2023			251,942			$	11.89				3.9
Non-vested at January 31, 2023			3,851			$	3.31				8.9
Vested at January 31, 2023			248,091			$	12.02				3.8

		Number of Options Outstanding				Weighted Average Exercise Price				Average Remaining Contractual Life (in years)
Outstanding - April 30, 2020			248,837			$	12.44				6.5
Options granted			3,030			$	1.16				9.5
Outstanding - April 30, 2021			251,867			$	12.30				5.5
Options granted			9,848			$	2.93				9.8
Options forfeited			(7,500	)		$	15.18				—
Outstanding - April 30, 2022			254,215			$	11.79				4.6
Non-vested at April 30, 2022			10,126			$	2.89				9.5
Vested at April 30, 2022			244,089			$	12.16				4.4