8 EQUITY TRANSACTIONS

12 Months Ended

Feb. 28, 2018

Equity [Abstract]

EQUITY TRANSACTIONS

NOTE 8:   EQUITY TRANSACTIONS

Restricted Stock Grants

During the year ended February 28, 2017, 250,000 shares of fully vested restricted common stock were issued by the Company to an employee.  The shares were valued at the closing price of the Company's common stock at the date of the grant for a total expense of $117,500. 

During the year ended February 28, 2017, the Company repurchased 30,000 shares of common stock at a cost of  $17,400.  This repurchase has been recorded as treasury stock and reflected as a reduction of stockholders' equity.

Warrants

A summary of warrant activity for the fiscal years ended February 28, 2018 and February 28, 2017 is shown below.

			Weighted-
			Average
	Warrants		Exercise
	Outstanding		Price
Outstanding at March 1, 2016		6,407,221		0.21
Granted		-		-
Exercised		-		-
Forfeited		-		-
Outstanding at February 28, 2017		6,407,221		0.21
Granted		-		-
Exercised		-		-
Outstanding at February 28, 2018		6,407,221		0.21
Vested at February 28, 2018		6,407,221		0.21
Exercisable at February 28, 2018		6,407,221		0.21

The following table summarizes significant ranges of outstanding warrants as of February 28, 2018:

		Warrants Outstanding						Warrants Exercisable
				Weighted		Weighted				Weighted
				Average		Average				Average
				Remaining		Exercise		Number		Exercise
Exercise Price		Number		Life (Years)		Price		Outstanding		Price
	$0.21		6,407,221		2.79		$0.21		6,407,221		$0.21

As of February 28, 2018 and February 28, 2017 the total outstanding warrants had an intrinsic value of $0.