DEFERRED FINANCING COSTS

3 Months Ended

May 31, 2013

Notes to Financial Statements

DEFERRED FINANCING COSTS

We defer certain costs associated with financing activities related to the issuance of equity securities (deferred offering costs) and debt securities (deferred financing costs). These costs consist primarily of legal, banking and other professional fees related to the transactions. Upon successful completion of the offering of equity securities, deferred offering costs are recorded as a reduction of the net proceeds in paid in capital. If the offering is not successful, such costs will be expensed. Deferred financing costs are amortized over the life of the related debt.

Deferred financing costs consisted of the following:

	May 31 , 2013			February 28, 2013
Deferred financing costs	$	85,204		$	85,204
Less: accumulated amortization		(56,759	)		(33,791	)
Deferred financing costs, net	$	28,445		$	51,413