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EQUITY
3 Months Ended
May 31, 2013
Equity [Abstract]  
Note 2. EQUITY

On April 5, 2013, the Company issued 303,013 shares of common stock to members of its members of its scientific advisory board and clinical advisory board vesting over a period of ten years or upon the listing of the Company on a national exchange. The Company valued the shares for a total fair value of $984,792 on the grant date and has amortized the expense each quarter based upon the vested portion. As of May 31, 2013, the Company has recognized $984,792 in stock compensation expense in connection with these shares.

 

On April 9, 2013, the Company issued 100,000 shares of common stock to an advisor and member of its Board of Directors for services. The Company valued the shares for a total fair value of $305,000 on the grant date and has amortized the expense each quarter based upon the vested portion. As of May 31, 2013, the Company has recognized $305,000 in stock compensation expense in connection with these shares.

 

On April 18, 2013, the Company issued 12,000 shares of Common Stock to a consultant for services. The Company valued the shares for a total fair value of $34,200 on the grant date and has amortized the expense each quarter based upon the vested portion. As of May 31, 2013, the Company has recognized $34,200 in stock compensation expense in connection with these shares.