WARRANTS (Tables)

9 Months Ended

Nov. 30, 2012

Warrants Tables

Common stock purchase warrants issued and outstanding

The following table summarizes common stock purchase warrants issued and outstanding:

	Warrants	Weighted average exercise price		Aggregate intrinsic value		Weighted average remaining contractual life (years)
Outstanding at February 29, 2012	2,283,372	$	1.01	$	2,283,372		4.83
Granted	370,000	$	1.44	$	824,900		-
Outstanding at November 30, 2012	2,653,374	$	1.07	$	6,901,111		4.12

Warrants exercisable

Warrants exercisable at November 30, 2012 are:

Exercise				Weighted average		Exercisable number of
prices		Number of shares		remaining life (years)		shares
$	0.68		220,000		3.96		220,000
$	0.91		1,497,122		4.17		1,497,124
$	1.40		216,250		3.24		216,250
$	1.40		350,000		4.25		350,000
$	1.40		220,000		3.42		220,000
$	1.50		150,000		3.67		150,000