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STOCK WARRANTS AND OPTIONS (Tables)

6 Months Ended

Aug. 31, 2013

Notes to Financial Statements

Schedule of Key Assumptions of Employee Stock Options

	Employee Stock Options
Stock Price		$0.17-$2.20
Exercise Price		$.35-$1.25
Expected volatility		73.4% - 98%
Expected dividend yield		0.00	%
Risk-free rate		2.0-3.37%
Vesting period		0-4 years
Expected term		7 years

Schedule of Stock Options

				Stock Options				Weighted Average Exercise Price				Expiry Date
	Outstanding, February 28, 2012				2,475,000			$	1.13			FY 2019
	Issued				0				0
	Exercised				0				0
	Expired/Cancelled				(380,000	)			1.13
	Outstanding, February 29, 2013				2,095,000				1.13
	Issued				2,375,000				0.368			FY 2020
	Exercised				0				0
	Expired/Cancelled				(1,085,000	)			1.14
	Outstanding, February 28, 2014				3,385,000			$	0.618
	Issued				0				0
	Exercised				0				0
	Expired/Cancelled				(105,000	)		$	0.793
	Outstanding, August 31, 2014				3,280,000			$	0.612

Schedule of Key Assumptions of Warrants

	Warrants
Stock Price		$0.16-$1.05
Exercise Price		$0.35-$1.50
Expected volatility		73.4% - 98%
Expected dividend yield		0.00	%
Risk-free rate		0.16% - 2.62%
Vesting period		—
Expected term		2-5 years

Schedule of Warrants

				Number of Warrants				Weighted Average Exercise Price				Expiry Date
	Outstanding, February 29, 2012				9,041,967				1.14			Various through 3/18/2016
	Issued				2,837,857				0.39			Various through 10/22/2017
	Exercised				0
	Cancelled/Expired				0
	Outstanding, February 28, 2013				11,879,824				0.96
	Issued				26,126,965				0.353			Various through 4/4/2017
	Exercised				(7,627,875	)			0.36
	Cancelled/Expired				(529,350	)
	Outstanding, February 28, 2014				29,849,564			$	0.59
	Issued				2,645,000			$	0.35			4/16/2018
	Exercised				(3,653,084	)		$	0.35
	Cancelled/Expired				0
	Outstanding, August 31, 2014				28,841,480			$	0.60

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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