CAPITAL STOCK

6 Months Ended

Aug. 31, 2014

Equity [Abstract]

CAPITAL STOCK

Common Stock

For the six months ending August 31, 2014, the following share-related transactions occurred:

• 300,000 common shares were issued in connection with the conversion of a prior outstanding note payable in the amount of $105,000.

• 4,334,795 common shares were issued in connection with warrants exercised for proceeds of $1,278,579

• 3,275,489 common shares were sold to unrelated third parties in a private placement at $0.35 per share for net proceeds of $1,146,421.

• 9,820,000 common shares were sold to unrelated third parties in a private placement at $0.25 per share for net proceeds of $2,455,000.

• 1,000,000 common shares were issued in connection with the Preferred stock settlement agreement

During the fiscal year ending February 28, 2014, the following share-related transactions occurred:

• 385,715 common shares valued at $145,237 were issued in payment of accounts payable.

• 542,500 common shares were issued for consulting services to multiple providers. The shares were valued at various market prices ranging between $0.15 and $0.50 per share. The combined value of the shares was $112,375, all of which was expensed during the fiscal year.

• 300,000 common shares were issued valued at $150,000 in connection with prior equity issuance costs that were owed.

• 312,500 common shares were issued valued at $100,000 in connection with an adjustment in pricing from a previous investment.

• 7,627,875 common shares were issued in connection with warrants exercised for proceeds of $2,712,500.

• 5,000,000 common shares were sold to unrelated third parties in a private placement at $0.45 per share for net proceeds of $2,250,000.

• 565,496 common shares were issued in connection with the conversion of the prior outstanding note payable in the amount of $197,923.

During the fiscal year ending February 28, 2013, the following share-related transactions occurred:

• 206,718 Common Shares valued at $81,099 were issued in payment of an account payable.

• 1,508,644 common shares were issued for consulting services to multiple providers. The shares were valued at various market prices ranging between $0.35 and $0.45 per share. The combined value of the shares was $602,150, all of which was expensed during Fiscal 2013.

• 1,174,051 common shares were issued in connection with the conversion of the prior outstanding convertible note in the amount of $104,000.

Total common shares issued and outstanding at August 31, 2014 were 61,857,197.

Preferred Stock 

• On August 21, 2014, the Company retired all its existing outstanding Preferred Shares under a settlement agreement with the Preferred shareholder.